LONDON – In a sign of growing anxiety about tax competition that costs governments billions of dollars a year, international economic policymakers are exploring the need for a global crackdown on tax loopholes.
LISBON – Angola, Africa’s second-biggest crude oil producer, has denied a report that it lost almost $6 billion in illicit capital flows in 2009.
JOHANNESBURG – Almost $6 billion was spirited out of Angola in 2009, according to new data on Wednesday that highlight how much of the war-scarred African nation’s oil wealth is stolen by a corrupt elite.
ACCRA – Intelligence picked by The Herald has revealed some shocking underhand dealings involving a fishing company at the Tema Fishing Habour called Free Fisheries Ghana Limited, owned by Olga Popova, a Russian lady.
Global efforts are intensifying to seize assets belonging to Egypt’s former president Hosni Mubarak following the revolution in the north African nation.
NAIROBI—Kenya lost about Sh156 billion between 2000 and 2008 to illicit outflows of capital perpetuated by wealthy businesspeople and multinationals. These resources can finance about 70 per cent of Kenya’s 2010/11 development budget of Sh222 billion.
Bloomberg–A U.S. tech company identified only by the pseudonym “Delta” generated as much as 55 percent of its revenue domestically while reporting to shareholders that only 10 percent of its pretax income came from U.S. operations, according to a report presented to the House Ways and Means Committee.
Business Guide Ghana–AFRICA loses about $1 trillion to illicit financial dealings which benefit the developed countries and make the continent poorer.
March 26 (Bloomberg) — African nations lost $854 billion in illegally transferred funds over the past four decades, at least double the official development assistance given to the continent, according to a report released today.
With financial sector losses being counted in the trillions, it is easy to lose sight of the mere hundreds of billions slushing down the drain of corruption every year. So negotiators meeting in Doha to discuss the six-year-old United Nations Convention against Corruption must make sure the momentum gained by the anti-corruption fight over the past two decades does not become a casualty of the crisis.
The multibillion-dollar tax avoidance cases enveloping the big banks serve as a warning to all business that deal internationally, Grant Thornton tax expert Paul Gallagher says.
PARIS, Sep 16 (IPS) – Illegal capital flight in the form of corrupt, criminal and illicit commercial proceeds out of developing economies could be as high as one trillion dollars a year.
The UK's Channel 4 News decided to go to the Channel Island of Jersey, where ...
Task Force and Global Financial Integrity Director Raymond Baker speaks at an event sponsored by ...
While over 100 million children never get the opportunity to go to school, developing countries ...
GFI and Task Force Director Raymond Baker speaks in Norway in an event sponsored by ...
Global Financial Integrity Director Raymond Baker gives a lecture on the issue of illicit financial ...
Global Financial Integrity (GFI) Director Raymond Baker will testify before the U.S. House of Representatives ...
May 15, 2009
Washington, DC — The House Financial Services Committee hearing today on official corruption, its ...
May 19, 2009
A US appelate court overturned a lower court's decision today, securing a big victory for ...
May 29, 2009
I once heard that “Finance is the art of passing money from hand to hand ...
June 25, 2009
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