Financial Transparency Coalition

LONDON – Between June and September 2010 the Libyan state oil fund deposited over $1bn with HSBC, according to a document leaked to Global Witness and published today. The deposit brought the balance with the British bank to $1.42bn, up from $292.7m three months earlier. The document also reveals the total assets managed by the state oil fund – Libyan Investment Authority (LIA) – swelled from $54bn to $64bn in the space of three months.

LONDON – Global Witness welcomes today’s implementation of the UK Bribery Act which, if enforced correctly, will help curb corruption and end poverty around the world. But the group warns that the government will need to provide the necessary resources to effectively enforce the act if its anti-corruption credentials are to be taken seriously.

LONDON – As the 2010 Bribery Act comes into force on the 1st July, anti-corruption watchdog Transparency International UK warns that the enforcement of the new Act could be undermined by a lack of resources.

You go to a DMV to get a driver’s license. You submit an application and take an eye exam, you pay the relevant fees, take a written exam, and then an official grades your score. If you pass, you get to take a driving test and another official evaluates your performance. Upon successful completion of these steps, someone takes your picture and 5-8 business days later your license arrives in the mail. Well, that’s the way it is for some people. But if you were unlucky enough to be taking your driving test in a country where corruption runs rampant,...