Financial Transparency Coalition

The World Bank’s private-sector entity – the International Finance Corporation (IFC) – seeks to increase tax payments to the government in developing countries through supporting their natural resource projects. This report documents that this aim can be undermined by IFCclients’ tax planning. IFC’s response is that “it is not likely to be true in almost

In July 2010, the U.S. Congress passed Section 1504 of the Dodd-Frank Act, a measure requiring companies registered with the Securities and Exchange Commission (SEC) to publicly report how much they pay governments for access to oil, gas and minerals, country-by-country and project-by-project. The SEC is developing final rules to put the disclosure requirement into

Criminals, especially drug traffickers, may have laundered around $1.6 trillion, or 2.7 per cent of global GDP, in 2009, according to a new report by UNODC. This figure is consistent with the 2 to 5 per cent range previously established by the International Monetary Fund to estimate the scale of money-laundering. Less than 1 per

Washington, October 24, 2011 –Most large-scale corruption cases involve using legal entities to conceal ownership and control of corrupt proceeds, and policymakers should take steps to improve transparency to reduce opportunities for wrongdoing, according to a study released today by the Stolen Asset Recovery (StAR) Initiative of the World Bank and the United Nations Office on Drugs