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Five take-aways for Europe from the African Union’s High-Level report on illicit financial flows
February 4th, 2015
6171626086_24fafd82fa_zLast Saturday a landmark decision was taken when the African Union, made up of 54 African Heads of State, adopted the report of the High Level Panel on Illicit Financial Flows (IFF). This report documents the scale and impact of IFF from the continent and gives a range of policy recommendations. Our friends at the Tax Justice Network says the report is“probably the most important report yet produced on this issue” and for good reasons. The new report is not only a strong testament to the importance that African leaders are...
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Progress and Momentum on Transparency: 2014 Year in Review (Part 2)
December 31st, 2014
This blog post is the second in a two-part blog series. In this post, I survey this year’s progress and momentum in global policy on transparency issues. In the first post, I examined several of the year’s biggest global trends and their relationship to financial transparency. The European Union has made huge policy progress this year. From anti-money laundering to country-by-country reporting, when it comes to transparency issues, the EU was an all-star. In perhaps the biggest news out of the EU this year, after months of deliberations, EU nations agreed to national-level registries to collect information on the beneficial...
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New Study: Crime, Corruption, Tax Evasion Drained a Record US$991.2bn in Illicit Financial Flows from Developing Economies in 2012
December 15th, 2014
WASHINGTON, DC – A record US$991.2 billion in illicit capital flowed out of developing and emerging economies in 2012—facilitating crime, corruption, and tax evasion—according to the latest study released Tuesday by Global Financial Integrity (GFI), a Washington, DC-based research and advisory organization. The study is the first GFI analysis to include estimates of illicit financial flows for 2012. The report—GFI’s 2014 annual global update on illicit financial flows—pegs cumulative illicit outflows from developing economies at US$6.6 trillion between 2003 and 2012, the latest year for which data is available.  Titled “Illicit Financial Flows from Developing Countries: 2003-2012,” [HTML | Continue Reading

RT @CA_global: The indirect victims of #IllicitFinancialFlows, this time in #Ghana, where eight countries in the downstream petroleum secto…
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