Global Financial Integrity

 

Basel Institute on Governance Joins Task Force on Financial Integrity & Economic Development

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Monique Perry Danziger, +1 202 293 0740 ext. 222

WASHINGTON, DC – The Basel Institute on Governance is the newest member to join the Task Force on Financial Integrity and Economic Development, officiating Task Force member Global Financial Integrity (GFI) announced today.

The Basel Institute on Governance is an independent non-profit think tank dedicated to research, policy development, consulting and capacity development in the areas of corporate, public and global governance. Created in 2006, the International Centre for Asset Recovery (ICAR) of the Basel Institute assists developing countries in building capacities and setting-up necessary procedures and institutions to more effectively make use of international legal assistance in criminal matters for the purpose of recovering stolen assets. A primary goal of ICAR is to support countries in implementing the provisions of Chapter V on asset recovery of the UN Convention against Corruption (UNCAC). ICAR provides advice and assistance and may act as a facilitator, coach or mentor in international asset recovery cases. The Centre conducts applied research on advanced techniques and developments on asset recovery matters by using various tools, such as surveys and case studies.

The Institute joins Task Force members Tax Justice Network, Transparency International, Global Witness, Christian Aid, and Global Financial Integrity, representatives from the Governments of Norway, Germany, Denmark, the Netherlands, France, Spain, and Chile, the 55-member Paris-based Leading Group on Solidarity Levies for Development, and the Ford Foundation.

Launched in January 2009, the Task Force is a unique global coalition of civil society organizations and more than 50 governments which advocates for greatly improved transparency and accountability in the global financial system.

The Task Force has five priorities in addressing the current global financial crisis:

  1. Curtailment of mispricing in trade imports and exports;
  2. Country-by-country accounting of sales, profits, and taxes paid by multinational corporations;
  3. Confirmation of beneficial ownership in all banking and securities accounts;
  4. Automatic cross-border exchange of tax information on personal and business accounts;
  5. Harmonization of predicate offenses under anti-money laundering laws across all Financial Action Task Force cooperating countries.

The Task Force recently launched FinancialTaskForce.org to serve as a “one-stop hub” for information about the Task Force and its work on increasing transparency and accountability in the global financial system. In addition to up-to-the-minute-news, the latest research and reports, and many other other informational resources, the site also features a Task Force blog, with daily commentary and analysis from Task Force members and other high-ranking, influential experts in the fields of global economics, financial regulation, international and U.S. fiscal policy, and more.

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The Task Force on Financial Integrity and Economic Development addresses inequalities in the global financial system that penalize billions of people, and advocates for improved transparency and accountability.

For additional information please visit http://www.financialtaskforce.org