Financial Transparency Coalition

LONDON – WWF’s flagship scheme to promote sustainable timber – the Global Forest and Trade Network (GFTN) – is allowing companies to reap the benefits of association with WWF and its iconic panda brand, while they continue to destroy forests and trade in illegally sourced timber, a new briefing by Global Witness reveals. While GFTN is intended to reduce and eliminate such practices over the first 5 years of membership, systemic failures blight the scheme’s ability to deliver for forests.

WASHINGTON, DC – The U.S. Treasury Department is finalizing a regulation (REG-146097-09) that would require that the interest earned on the U.S. bank accounts of non-resident aliens be reported to the Internal Revenue Service (IRS), as is currently required for U.S. citizens. The proposed IRS regulation has been touted as an important tool in the fight against international tax evasion, money laundering, drug trafficking, corruption, and terrorist financing. However, a small group of legislators have introduced a bill (H.R. 2568) that would prevent the Treasury from taking such action.

LONDON – Christian Aid has welcomed a new from the World Bank for countries to exchange information about who really owns companies, bank accounts and other financial assets within their borders, in a bid to help recover the billions currently stolen from poor countries each year.

LONDON – Christian Aid today welcomed Prime Minister David Cameron’s backing for legislation that will force companies to reveal the taxes and fees paid to governments in every country where they operate. Speaking in Lagos, the Prime Minister said the EU should follow the example of the US, which has introduced a new law to force mining