Financial Transparency Coalition

It's a big week for international affairs with the UN General Assembly meetings going on today, and the G20 summit happening Thursday and Friday. While New York and the UN meetings (cough, cough, will Obama run into Ahmadinejad?, cough) have dominated coverage over the past few days, from our point of view, what comes out of the G20 Summit in Pittsburgh is much more important. In April, the G20 leaders announced the "the era of banking secrecy is over" and vowed to crack down on tax evaders. In July, the G8 stated the need...

My week in DC is not yet over: I have some meetings still to do, but my on-line week nearly is. I admit it’s too early to appraise all that has happened. But I’ll offer first thoughts. First highlight: World Bank MD Ngozi Ikonjo-Iweala calling for mass civil society action against illicit financial flows. Has the Bank got the issue? I think so. Second, constructive dialogue with the Oxford team. I hope we can build on it. Third, clear rejection of the view put forward by some economists that data prevents analysis of this issue or that there is even...

The Guardian--Jersey's compliance with international financial regulation and supervision rules is rated ahead of the UK, according to a detailed study by the International Monetary Fund (IMF).

Today, following the conclusion of a two day conference titled “Increasing Transparency in Global Finance: A Development Imperative,” the Task Force on Financial Integrity and Economic Development issued the following statement to the members of the G-20:

Today the Task Force on Financial Integrity and Economic Development concluded a two-day conference which provided an opportunity to examine in-depth the linkage between global illicit financial flows and their adverse impact on development.

The massive flow of illicit money out of developing nations, estimated at some $1 trillion per year, outpaces current levels of...