July 17th, 2014
Are you an ambitious journalist in Africa with an interest in probing illicit finance, money laundering, and tax related abuses? Or, perhaps, you represent an outstanding, independent media organization based in Africa with a desire and reputation for exposing financial crime and corruption?
Either way, the Thomson Reuters Foundation is launching a new three-year program
assisting African media on the reporting of illicit finance and tax abuse, and they are hoping that you will apply.
July 1st, 2014
– Global Financial Integrity (GFI) expressed skepticism today that the settlement reached between the United States government and BNP Paribas SA would effectively punish the company for its systematic subversion of U.S. sanctions over a decade-long period or effectively deter similar conduct in the future.
U.S. Attorney General Eric Holder announced late on Monday
that “between 2004 and 2012, BNP engaged in a complex and pervasive scheme to illegally move billions through the U.S. financial system on behalf of sanctioned entities” in Sudan, Iran, and Cuba, going “to elaborate lengths to conceal...
May 30th, 2014
In his first official act after winning the biggest democratic election in world history, Indian Prime Minister Narendra Modi announced the formation
of a Special Investigative Team (SIT) to probe illicit financial flows
, or ‘black money’ as they are commonly referred to in India.
May 15th, 2014
Global Financial Integrity (GFI), a Washington-based NGO and Coordinating Committee member of the FTC, has released a new report highlighting the drain that illicit financial flows have on countries in the developing world. But rather than look at the entire developing world, the report focused on five specific countries in east Africa: Uganda, Ghana, Mozambique, Kenya, and Tanzania.
The report investigates trade mis-invoicing—the act of under or over-valuing goods so that a business can move money into our out of a country undetected—and estimates how much tax revenue these five countries...