Global Financial Integrity

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Quarterly Newsletter

GFI Engages, Third Quarter 2015

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A Quarterly Newsletter on the Work of Global Financial Integrity from June to September 2015

Global Financial Integrity is pleased to present GFI Engages, a quarterly newsletter created to highlight events at GFI and in the world of illicit financial flows. We look forward to keeping you updated on our research, advocacy, high level engagement, and media presence. The following items represent just a fraction of what GFI has been up to since March, so make sure to check our website for frequent updates.
Global Financial Integrity Conference: Illicit Financial Flows: The Most Damaging Economic Problem Facing the Developing World

Based on the culmination of work GFI has done with the support of the Ford Foundation including a book by GFI, the conference included discussions and keynote remarks from experts on the nature of IFFs, country-level perspectives, and how and why curtailing these IFFs should be a priority for the global community.

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GFI Engages, Second Quarter 2015

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A Quarterly Newsletter on the Work of Global Financial Integrity from April to June 2015

Global Financial Integrity is pleased to present GFI Engages, a quarterly newsletter created to highlight events at GFI and in the world of illicit financial flows. We look forward to keeping you updated on our research, advocacy, high level engagement, and media presence. The following items represent just a fraction of what GFI has been up to since March, so make sure to check our website for frequent updates.

Joint Conference in Johannesburg: Financial Transparency and Human Rights in Africa

The Friedrich-Ebert-Stiftung (FES), Global Financial Integrity (GFI), and the International Bar Association’s Human Rights Institute (IBAHRI) partnered to host a three-day conference in Johannesburg, South Africa fromMay 18-20. The conference featured special expert-level discussion on the connection between human rights and illicit financial flows in Africa and the legal, advocacy, and academic channels for leveraging these connections to effect change.

Panelists and keynote speakers were drawn from around Sub-Saharan Africa and across the globe, covering a broad range of topics within the financial transparency-human rights overlap, including natural resources, violent conflicts, long-term development consequences, and the ongoing Sustainable Development Goal (SDG) process.

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GFI Engages, First Quarter 2015

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A Quarterly Newsletter on the Work of Global Financial Integrity from January through mid-April 2015

Global Financial Integrity is pleased to present GFI Engages, a quarterly newsletter created to highlight events at GFI and in the world of illicit financial flows. We look forward to keeping you updated on our research, advocacy, high level engagement, and media presence.

The release of this quarter’s newsletter was delayed in order to include the high level roundtable GFI held on April 17. The following items represent just a fraction of what GFI has been up to since December, so make sure to check our website for frequent updates.

GFI’s High Level Roundtable: IFFs, FfD, and SDGs: Global Perspectives

Global Financial Integrity was pleased to host a high level roundtable on April 17 that focused on the relationship between illicit financial flows (IFFs), Financing for Development (FfD), and the Sustainable Development Goals (SDGs). Respected members of the public, private, academic, civil society, and multilateral sectors from around the world provided their perspectives on how to tackle IFFs, improve domestic resource mobilization, and strengthen the development of financial management.

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GFI Engages, Fourth Quarter 2014

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A Quarterly Newsletter on the Work of Global Financial Integrity from October through December 2014

Global Financial Integrity is pleased to present GFI Engages, a quarterly newsletter created to highlight events at GFI and in the world of illicit financial flows. We look forward to keeping you updated on our research, advocacy, high level engagement, and media presence. The following items represent just a fraction of what GFI has been up to since September, so make sure to check our new website for frequent updates.

World Bank Forum on Illicit Financial Flows

On October 11, GFI President Raymond Baker was a featured member of a World Bank panel, titled “Illicit Financial Flows and the Post-2015 Development Agenda,” which focused on the need to curtail the negative effects of illicit financial flows on sustainable development.

Held during the IMF/World Bank Annual Meetings, the public forum was hosted by the World Bank Group’s Integrity Vice Presidency and included high-profile speakers from Bangladesh, Denmark, Norway, and the Untied States.

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GFI Engages, Third Quarter 2014

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A Quarterly Newsletter on the Work of Global Financial Integrity from June through September 2014

Global Financial Integrity is pleased to present GFI Engages, a quarterly newsletter created to highlight events at GFI and in the world of illicit financial flows. We look forward to keeping you updated on our research, advocacy, high level engagement, and media presence. The following items represent just a fraction of what GFI has been up to since May, so make sure to check our new website for frequent updates.

U.S.-Africa Leaders Summit

The big news this quarter was the U.S.-Africa Leaders Summit held in Washington, D.C. in early August, which brought together leaders from fifty African nations with President Obama, and included a ground-breaking announcement that a joint high-level working group on illicit financial flows would be formed. GFI participated in the summit’s Civil Society Forum as well as several additional side events, and were proud to partner with the Open Society Foundations (OSF) and other organizations to host the event “Resources for the Future: Partnering with Civil Society for Transparency and Accountability in Africa,” which celebrated the role of civil society in advocating for transparency and accountability in Africa and discussing ways to make further progress. The high-caliber roster of speakers are too numerous to list here, but included Vice President Joseph Boakai of Liberia; George Soros, founder of OSF; Mo Ibrahim, founder of the Mo Ibrahim Foundation; and Mojanku Gumbi, a trustee of the Thabo Mbeki Foundation. The public event was followed by an African-U.S. civil society working session.

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GFI Engages, First and Second Quarter 2014

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A Quarterly Newsletter on the Work of Global Financial Integrity from January through May 2014

Global Financial Integrity is pleased to present GFI Engages, a quarterly newsletter created to highlight events at GFI and in the world of illicit financial flows. We look forward to keeping you updated on our research, advocacy, high level engagement, and media presence.

This year has been busy so far, with GFI staff traveling to six continents within the first three months alone. The following items represent just a fraction of what GFI has been up to, so make sure to check our new website for frequent updates.

Measurable Change in India

In late April, the Indian Directorate of Revenue Intelligence released a summary of its first two years of increased law enforcement activity targeted at cases of commercial fraud, including illicit financial flows through trade misinvoicing. Their early results have been remarkable: between March 2012 and March 2014, they detected $1.3 billion worth of commercial fraud, and collected $396 million in new revenue.

India is just beginning its effort to crack down on trade-related illicit financial flows, and should serve as an example of the potential that curtailing trade misinvoicing has for development. India began working in earnest to reduce illicit financial flows after a report by Global Financial Integrity showed the economy had lost $462 billion since 1948 due to illicit outflows. Following years of intense political debate and public outcry, the Indian Ministry of Finance declared trade misinvoicing its ‘top priority’ and began working with GFI and others to address it.

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