Financial Transparency Coalition

On October 12th, 2002, a group of terrorists detonated three bombs on the island of Bali in Indonesia, killing 202 and injuring 240 more. The two larger bombs targeted foreign tourists in a nightclub area and the smaller bomb detonated outside the United States consulate and caused minor damage. In 2008, Indonesia executed three of the more than 30 people convicted in connected with the mass murders. Many of these convicts were associated with Jemaah Islamiyah (JI), a militant Islamist group in Southeast Asia. The United States believes JI has ties to al-Qaeda and (had) a relationship with Osama...

ISTANBUL – State Secretary Ingrid Fiskaa spoke at the Fourth UN Conference on the LDCs, identifying illicit financial flows due to trade mispricing, tax evasion, trafficking, the drugs and arms trade, and corruption as one of the structural causes of poverty as well as one of the major threats facing sustainable development, along with climate change, armed conflicts, and a lack of political and economic empowerment for women and girls.

LONDON – FTSE 100 mining firm Kazakhmys PLC is still refusing to provide full information as to the identity of its beneficial owners, nearly one year after anti-corruption watchdog Global Witness raised concerns over alleged links between the company’s management and Nursultan Nazarbayev, the autocratic president of Kazakhstan.

WASHINGTON, DC – The U.S. Treasury Department will hold a hearing tomorrow on a proposed rule requiring banks to report information to the Internal Revenue Service (IRS) on bank accounts held by non-U.S. residents. Currently, U.S. banks are not required to give the U.S. government information about these types of accounts.