Financial Transparency Coalition

LONDON – Global Witness welcomes today’s recognition by the Financial Services Authority (FSA) that the majority of Britain’s banks are failing to do enough to identify corrupt money from abroad and that it is ‘likely that some banks are handling the proceeds of corruption’.

WASHINGTON, DC – The House Judiciary Committee will convene a hearing tomorrow to consider whether to amend the Foreign Corrupt Practices Act (FCPA), the nation’s flagship anti-corruption legislation. Among other things, the hearing will specifically consider amendments proposed to the act by the U.S. Chamber Institute for Legal Reform, an affiliate of the U.S. Chamber of Commerce, which FCPA-proponents charge will significantly weaken the anti-corruption legislation and undermine efforts to tackle corruption and illicit financial practices abroad.

WASHINGTON, DC – As the Organization for Economic Cooperation and Development (OECD) convenes its third meeting of the Global Forum on Transparency and Exchange of Information for Tax Purposes in Bermuda today, addressing deficiencies in the current OECD standard of tax information exchange is crucial, said Global Financial Integrity (GFI).

LONDON – Christian Aid is urging the Chancellor to consider how poor countries could be harmed by a deal allowing UK citizens with secret Swiss bank accounts to continue hiding their identities from the British taxman.