Financial Transparency Coalition

This research briefing on secrecy jurisdictions from Tax Research UK--endorsed by the Tax Justice Network and the Task Force on Financial Integrity and Economic Development--is designed to briefly provide a clear insight into what secrecy jurisdictions are and what problems they cause.

LONDON—British high street banks have accepted millions of pounds in deposits from corrupt Nigerian politicians, raising serious questions about their commitment to tackling financial crime, warned Global Witness in a report published today. By taking money from corrupt Nigerian governors between 1999 and 2005, Barclays, NatWest, RBS, HSBC and UBS helped to fuel corruption and entrench poverty in Nigeria.

WASHINGTON, D.C.—A pioneering new measurement of government public disclosure in managing oil, gas and minerals ranks Brazil and Norway highest among 41 countries for making public detailed information about these key resources, the Revenue Watch Institute (RWI) and Transparency International (TI) announced today.

The report, entitled ‘Investments for Development: Derailed to Tax Havens: A report on the use of tax havens by Development Finance Institutions,’ looks at a critical area in the development activities of many European countries – the role of the Development Finance Institutions that they own in funding private sector investment in developing countries.