By Channing Mavrellis, CAMS, April 11, 2017
The groups engaged in transnational organized crime—from criminal networks to insurgent groups to terrorist organizations—are united by a common thread: money. All of the crimes covered in Global Financial Integrity’s new report Transnational Crime and the Developing World are overwhelmingly profit-motivated. Globally, transnational crime has an average annual retail value of $1.6 billion to $2.2 billion, based on 11 “industries”: counterfeiting and piracy, drug trafficking, illegal logging, human trafficking, illegal mining, illegal fishing, the illegal wildlife trade, crude oil theft, the trafficking of small arms and light weapons, the illegal organ trade, and the trafficking of cultural property.
By Tom Cardamone, Jr., April 3, 2017
Believe it or not, the Panama Papers scandal has an upside: it shed light on the dark corners of the international financial system. Prior to the revelation that one law firm helped establish over 200,000 anonymous companies, the casual observer knew tax evasion, corruption, and money laundering occur in the world but they didn’t know quite how it works. Now the term “anonymous shell company” has some resonance and it is in the general lexicon — even if most people still can’t explain how they work.
By Joseph Spanjers, November 9, 2016
Today, GFI is pleased to announce the launch of GFTrade, a proprietary trade risk assessment application that enables customs officials to determine if goods are priced outside typical ranges for comparable products. A cloud-based system developed over the past year, GFTrade provides officials with real-time price analyses for goods in the port using price ranges for the same product based on global trade information. This information can help to determine if further investigation into potential misinvoicing is warranted, and it has the potential to substantially increase domestic revenue mobilization.
By Raymond Baker, October 21, 2016
Global Financial Integrity is pleased to note growing interest in the estimation of illicit financial flows and their effect on emerging market and developing countries. We are writing to offer a series of thoughts surrounding the reality of this concern and its political significance.
By Sami Dabbegh Since the outbreak of the so-called “Jasmine Revolution” five years ago, leading to the ouster of former president Ben Ali, Tunisia’s key economic and social problems have not been tackled in a way that...
By Tim Hirschel-Burns “A global human society, characterised by islands of wealth, surrounded by a sea of poverty, is unsustainable.” This quote from Thabo Mbeki, the former president of South Africa, concludes the recently released video “Stop...
With just days remaining until Britain decides on its EU membership, the UK is at a crossroads. It has a historical choice to make, with various consequences attached to the decision on the 23rd of June on whether it becomes the first ever country to leave the EU. Those consequences could include undermining the leading role that Britain has taken in the global fight against corruption and transforming Britain into an even greater tax haven for multinationals.
By Heather Lowe, April 18, 2016
The global community recently began implementing a system of transparent, open source ID numbers—Legal Entity Identifiers (LEI)—to help companies, regulators, investors, and the public see how parent and subsidiary companies are related. Global Financial Integrity has been supportive of this corporate transparency tool, and I participated in the early stages of creating the new global LEI system. To test out and demystify the new system, I decided to have GFI register to get its own LEI number. Ten minutes and US$219 later we were done, and now I’m going to explain just how easy the process was.