Financial Transparency Coalition

Bloomberg -- Swiss banks proposed a withholding tax for foreign clients as they bid to fend off attacks on banking secrecy by the U.S., Germany and France.

An influential American Senator has urged US President Barack Obama to push the G20 nations to bar tax haven banks from participating in the global financial system if they refuse to cooperate with investigations of tax evasion.

PARIS, Sep 16 (IPS) - Illegal capital flight in the form of corrupt, criminal and illicit commercial proceeds out of developing economies could be as high as one trillion dollars a year.

Gerald Green and Patricia Green, Los Angeles-area film executives, were found guilty late last Friday of conspiracy to violate the Foreign Corrupt Practices Act (FCPA) and money laundering laws of the United States, as well as substantive violations of the FCPA and U.S. money laundering laws in relation to a sophisticated bribery scheme that enabled the defendants to obtain a series of Thai government contracts, including valuable contracts to manage and operate Thailand’s yearly film festival.