Financial Transparency Coalition

African civil society organisations and a coalition of leading international development organisations have called for global policymakers to adopt measures to counter the hundreds of billions of dollars siphoned out of the continent through money laundering and industrial scale corporate tax avoidance.

Dar es Salaam, Tanzania, September 30, 2013 - The Financial Transparency Coalition (FTC) and Tanzania’s Policy Forum, will host the highly anticipated conference Towards Transparency: Making the Global Financial System Work for Development at the White Sands Hotel on October 1 and 2, 2013. Topics to be discussed include the detrimental effects of illicit financial flows on the extractive industries (oil, gas, timber and mining), conflict and instability, illicit wildlife and arms trade. An expected two hundred guests from over 30 countries will look at how to make the global economy work for rich and poor by increasing financial...

WASHINGTON, DC September 4, 2013 – As G20 leaders gather in Moscow to discuss continued global economic instability and the pressing need for increased growth, the Financial Transparency Coalition (FTC) urges them to consider recent milestones as a foundation for action. “Moscow’s G20 focus on ‘growth through trust and transparency’ as one of three summit priorities is commendable. Without greater transparency in financial markets, the chances of a real global financial recovery - one that benefits poor and rich alike - remain slim,” said Porter McConnell, Manager of the Financial Transparency Coalition. "Corruption, tax evasion and aggressive tax avoidance do...

LONDON - Global Witness joins Members of Congress and investors representing more than US$5.6 trillion in assets in calling on the US Securities and Exchange Commission (SEC) to re-issue a strong ruleunder Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act—a vital piece of bipartisan US transparency legislation. Specifically, Section 1504 requires U.S.-listed oil, gas and mining companies to publish details of their revenue payments to governments, such as taxes, royalties and licence fees, on a country- and project-level basis so that citizens in resource-rich countries can ‘follow the money’ and ensure it is used for their...