Financial Transparency Coalition

Members of the European Parliament have proposed to strengthen Europe's Anti-Money Laundering Directive by requiring public registries of the real owners of all companies registered in the EU. They're voting on the Directive on January 22! A new FTC factsheet "How Europe can set the standard on anti-money laundering" tells you all you need to know about the Anti-Money Laundering Directive, including: •Why it matters •The modus operandi of money launderers •The revision of Europe’s anti-money laundering rules: a not-to-miss opportunity The Financial Transparency Coalition's network of over 150 civil society organizations and 12 governments around the world will be watching as the European...

Following an intense stream of tax haven scandals last spring, the EU leaders met in May this year and promised to tackle the issue of tax dodging. This week, they meet again to discuss progress made. Eurodad - along with our partners across Europe - are calling for EU leaders to start taking the problem seriously. Our report “Giving with one hand and taking with the other – Europe’s role in tax-related capital flight from developing countries 2013” finds that European member states are missing important opportunities to increase transparency and public accountability. While a huge amount of...

Yesterday, Global Financial Integrity released the report, Illicit Financial Flows from Developing Countries 2002-2011, which found that developing countries lost $947 billion in illicit financial flows in 2011, and $5.8 trillion over the ten-year study period. The subject of illicit financial flows is still a new one, and can be confusing. To help answer some common questions about the report, we’ve put together a quick FAQ below: What Are Illicit Financial Flows? What Does This Report Measure? Illicit financial flows are cross-border transfers of funds that are illegally earned, transferred, or utilized. These kinds of illegal transactions range from corrupt public officials...

This excellent report (cross posted and prepared by FTC Coordinating Committee member Global Witness) reinforces the necessity for transparency about the ultimate beneficial owners of companies involved in extractive deals – and NOT just the proxies or other companies in obscure ownership chains – but the real beneficial owners of companies! Findings pose a challenge for the Extractive Industries Transparency Initiative Click here to download this report. Azerbaijan Anonymous, a new report released today by Global Witness, reveals a shadowy figure in the oil industry of Azerbaijan, a key EU energy supplier. A little-known businessman, Anar Aliyev, has gained ownership stakes, some...