Financial Transparency Coalition

GFI and Task Force Director Raymond Baker speaks in Norway in an event sponsored by Publish What You Pay. He speaks about how the global shadow financial system creates tremendous human tragedy through $1.2 trillion per year of illicit financial flows, and how extractive industries transparency can help fix the system.

OSLO, Norway – Global Financial Integrity Director Raymond Baker delivered remarks today on the importance of transparency in the extractive industries at the “Global Investors for Financial Transparency” meeting in Oslo, Norway. Mr. Baker focused on the importance of country-by-country reporting requirements for oil, gas, and mining companies. Attendees included high-level Norwegian and EU elected officials, regulators, investors, and representatives of the Oslo Stock Exchange.

If companies were people and those who violated the laws were criminals, then BAE Systems would be a repeat offender. Actually I’m not sure repeat offender even begins to cover it. Here’s some background. BAE Systems is a defense contractor with products and services for air, land, and naval forces, including electronics, intelligence, weapons, among many others. It’s a British company, but over half of its $12 billion annual sales in its land and armaments business is with the United States. According to the Stockholm International Peace Research Institute, BAE is the largest armaments company in the...

NEW DELHI – India and Norway today signed a revised tax treaty for exchange of information between the two countries to prevent flows of black money and check tax evasion.