Financial Transparency Coalition

WASHINGTON, DC – Global Financial Integrity (GFI) today called upon G20 leaders meeting this week in Los Cabos, Mexico to tackle the issue of tax haven secrecy and the illicit financial flows it facilitates as a necessary means to ensuring stability in the international financial system.

NEW DELHI: Global Financial Integrity (GFI) on Friday called on leaders of the G8 bloc of nations to concretely tackle the issue of illicit financial flows and end tax haven secrecy when they meet this weekend at Camp David. Illegal capital flight costs the developing world roughly $1 trillion per year, according to GFI research.

WASHINGTON, DC – Global Financial Integrity (GFI) today applauded the introduction of a bill, which would close several major tax loopholes and curtail abusive tax haven secrecy.

Last month, Transparency International released a study (via Corruption Currents) citing how Romania is susceptible to corruption. These conditions create a potential breeding ground for corruption that could not only adversely affect the Romanian Government, but the European Union as well. They focused on four major issues: