Financial Transparency Coalition

Corruption can take many forms. Whether it's a politician funneling state funds into bank accounts in offshore tax havens, or a multinational corporation skirting their tax responsibilities in a developing country, one thing is clear: corruption stifles development and hinders society. Often, lots of these activities are facilitated by a lack of transparency in our financial system. Today is International Anti-Corruption Day, which should serve as a day to remind the world why it's important to speak out against corruption. Feel free to join in the global chorus on Twitter by following the hashtags #breakthechain and #anticorruptionday.

Starting tomorrow a group of government officials and experts belonging to the world’s leading anti-money laundering organisation – the Financial Action Task Force (FATF) – will be meeting in Paris. On the agenda is the adoption of a document on an issue that has major implications for the fight against crime, corruption and tax evasion around the world. It’s a shame nobody outside of this small circle of experts from governments and international organisations has had a chance to see the document before it comes out. According to the FATF website, at its upcoming plenary meeting the organisation will adopt...

Tomorrow, Heather Lowe of FTC member organization Global Financial Integrity will participate in a panel discussion organized by the U.S. Department of State. The event, hosted at the OpenGov Hub in Washington D.C., will also include officials from the World Bank's Stolen Assets Recovery Initiative, the State Department, and Transparency International USA. The discussion will focus on the inherent links between governance and corruption, and how to combat them. If you aren't based in Washington, or are unable to attend the event, there's no need to worry, as a live stream will be available on the Internet. You can submit questions...

In many ways, both illicit financial flows and corruption are undefined and relative. For that reason, they’re both notoriously difficult to measure. The difficulty in measuring them in the first place may be part of the ambiguity surrounding their connection. Ambiguity aside, however, these concepts are highly interrelated. Here’s how. What is corruption in the first place? Transparency International uses the following working definition of corruption: “the abuse of entrusted power for private gain.” I imagine that definition is purposively vague and inclusive on purpose. Corruption isn’t just bribe paying, although that’s often it. It’s not just in business relationships, but...