Financial Transparency Coalition

From the halls of the United Nations and G20 Summits to the streets of cities across the world, illicit financial flows are becoming a hotly debated topic. High profile leaks like the Panama Papers have drawn the public’s attention to the extreme secrecy available for the right price. When trillions of dollars flow through a shadow financial system beyond public scrutiny, citizens of rich and poor countries both lose. Northern governments under pressure to stop illicit financial flows have been outspoken in communiqués and press releases, but 3 of the top 5 secrecy jurisdictions still lie in Europe and the U.S. This, coupled with a number of recent backslides on financial transparency, makes a concerted push all the more timely.

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The Financial Transparency Coalition, Perkumpulan Prakarsa and Transparency International Indonesia hosted Many Voices, One Purpose: The 6th Financial Transparency Conference in Jakarta, Indonesia on 20-21 October at the Sari Pan Pacific Jakarta hotel.

Download the conference agenda and list of speakers here.

View photos and download speaker presentations here.

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The Financial Transparency Coalition and LATINDADD successfully hosted the 2014 conference, which brought together government officials, civil society organizations, journalists, and other experts to discuss a wide-range of issues related to illicit financial flows. Through strategy and training sessions, presentations, and meetings, the FTC conference presented a unique opportunity to facilitate learning, strategizing and policy analysis in a venue that brings multiple stakeholders together.
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In co-operation with Policy Forum, the Financial Transparency Coalition successfully hosted its annual conference in Dar es Salaam, Tanzania from October 1-2, 2013. The conference, Towards Transparency: Making the Global Financial System Work for Development, focused on addressing the problem of illicit financial flows, and how this illicit money, often gained through corruption, illegal activities, or tax evasion, could be better used to foster growth and development.

Every year, developing countries lose around $1 trillion per year to illicit financial flows, which are the proceeds of tax evasion, crime, and corruption. They undermine accountable government, enable organized crime on a massive scale, and make it more difficult for governments to provide basic services. Illicit financial outflows dwarf foreign aid, and represent one of the biggest impediments to development in Africa. (more…)