Financial Transparency Coalition

Washington — A new report released today from Global Financial Integrity (GFI) on private, non-resident deposits in secrecy jurisdictions finds that the United States, United Kingdom, and the Cayman Islands are the most popular destinations for financial deposits by non-residents. Switzerland, Luxembourg, and Hong Kong also make the top 10 list of destinations.

Washington, DC -- Developing country treasuries are losing approximately $100 billion dollars every year due to trade mispricing, according to a new report available today from Global Financial Integrity (GFI).

On 27th January 2010, the OECD hosted a joint meeting of the Committee on Fiscal Affairs and the Development Assistance Committee, bringing together the tax and development communities for the first time. Participants agreed on a set of general principles to guide follow up action.

A new Global Witness report, ‘The Secret Life of a Shopaholic: How an African dictator's playboy son went on a multi-million dollar shopping spree in the US', strongly suggests that Teodorin Obiang, son of the dictator of oil-rich Equatorial Guinea, purchased a $33 million private jet, a $35 million Malibu mansion, speedboats and a fleet of fast cars using corruptly acquired funds. The report goes on to explain how, despite the ample evidence against him, the investigation is going nowhere and Teodorin continues to be allowed into the U.S.