Task Force Blog

Posts by Clark Gascoigne

About the Author:

Clark Gascoigne is the Communications Director at Global Financial Integrity in Washington, DC.

Tuesday’s Daily News Digest

September 13, 2011

Profits elude bankers to the rich in booming India
Reuters, September 13, 2011

Credit Suisse ‘says provided customer data to US’
AFP, September 11, 2011

HM Revenue & Customs defends tax deal with Switzerland
The Guardian, September 12, 2011

U.K. Probe of HSBC Clients Said to Widen Over Swiss Tax Dodge
Bloomberg, September 13, 2011

Rich tax dodgers are paying back six times more than two years ago
The Telegraph, September 13, 2011

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Friday’s Daily News Digest

September 9, 2011

U.S. Senate Passes Patent Reform Bill Banning Tax Strategy Patents
Accounting Today, September 8, 2011

UK Government abandons tax treaty anti-avoidance measures
Tax Journal, September 9, 2011

Greece Names 6,000 Businesses For Tax Evasion
Dow Jones, September 9, 2011

Does a company’s responsibility to society start with paying its taxes?
The Guardian, September 9, 2011

Switzerland resists US tax data call
Reuters, September 7, 2011

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Friday’s Daily News Digest

September 2, 2011

HBR Case Study: Culture Clash in the Boardroom
Harvard Business Review, September 2011

Swiss agreement: the international ramifications
AccountancyAge, September 1, 2011

EU Criticizes Italy Budget Plan On Tax Evasion
Dow Jones, September 2, 2011

Restaurants in Greece refuse to pay VAT rise
Financial Times, September 1, 2011

Taxes: How To Turn In Your Neighbor to the IRS
Wall Street Journal, September 3, 2011

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Thursday’s Daily News Digest

September 1, 2011

U.S. aims to track ‘untraceable’ prepaid cash cards
MSNBC, September 1, 2011

UK Announces First Bribery Act Charges
Wall Street Journal, August 31, 2011

UAE begins enforcing cash declaration law
Emirates 24/7, September 1, 2011

Transnational Organized Crime and Mass-Marketing Fraud: A Call for a Swift and Collaborated Response
Brookings Institution, August 31, 2011

PFI shareholders are using tax havens, MPs find
AccountancyAge, September 1, 2011

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Wednesday’s Daily News Digest

August 31, 2011

Some companies pay their CEOs more than Uncle Sam, study says
Washington Post, August 31, 2011

Uganda: URA Studying Transfer Pricing Regulations
AllAfrica.com, August 30, 2011

U.S. Probes Oracle Dealings
Wall Street Journal, August 31, 2011

Junkets ‘encourage money laundering’: Wiki cables
Macau Daily Times, August 30, 2011

World Bank Should Refocus Its Anti-Corruption Fight, Audit Says
Bloomberg, August 31, 2011

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Tuesday’s Daily News Digest

August 30, 2011

Murdoch expands internal inquiry of UK papers
Reuters, August 30, 2011

Archer Daniels Midland in US fines alert
Financial Times, August 30, 2011

Drilling Firm Fires Unit President in FCPA Probe
Main Justice, August 30, 2011

Michael Mukasey pushes to alter bribery law
Politico, August 27, 2011

Greece to name tax dodgers on Internet in bid to boost weak revenues
AP, August 30, 2011

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Monday’s Daily News Digest

August 29, 2011

This, No Middle-Class, Weekend Revolution
International Business Times, August 29, 2011

Anna Hazare Ends Hunger Strike as Indian Parliament Agrees to His Demands
New York Times, August 28, 2011

Glencore To Declare Support For Ethical Mining To Spruce Up Its Image
This is Money, August 29, 2011

Royal Canadian Mounted Police Raid Calgary Miner over Bribery Allegations
Globe and Mail, August 29, 2011

George Osborne warns tax cheats: ‘I will find you and your money’
The Guardian, August 28, 2011

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Friday’s Daily News Digest

August 12, 2011

India stud farm owner jailed for ‘illegal money’ freed
BBC News, August 12, 2011

Seeking Sunlight: The Stop Tax Haven Abuse Act
TrustLaw (Blog), August 11, 2011

Export and import mispricing; the big cloud over dirty cash
Business Daily (East Africa), August 12, 2011

Germany has set back the fight against tax evasion
The Guardian, August 12, 2011

Italy turns on the ‘parasites on society’ in tax clampdown
Daily Telegraph, August 11, 2011

The best of weeks, the worst of weeks for Switzerland
Financial Times, August 12, 2011

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Thursday’s Daily News Digest

August 11, 2011

Black money: Is Indian law tightening grip?
Economic Times, August 11, 2011

Book Reviews: Treasure Islands and Only the Super-Rich Can Save Us!
Seeking Alpha, August 10, 2011

Colombia loses $13.3B a year through sales tax evasion, smuggling
Colombia Reports, August 10, 2011

Fallen Angels: Italy’s Top-Heavy Corruption And Never-Ending Appeals
Wall Street Journal, August 10, 2011

Political dysfunction fuels Italy financial crisis
Associated Press, August 10, 2011

Deere Faces Scrutiny for Possible Bribery Violation
Wall Street Journal, August 11, 2011

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We’re Looking to Hire a Senior Journalist / Communications Professional

June 6, 2011

The Task Force is seeking an experienced journalist to promote its issues and expertise in the area of financial transparency in the US/North America media market as a primary focus and in Central and South America as a secondary focus. This position will be based in Washington, DC.

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Gaddafi’s Biggest Bankers: HSBC, Goldman Sachs, Société Générale, JPMorgan Chase

May 26, 2011

Task Force member Global Witness today revealed that HSBC, Goldman Sachs, Société Générale, JPMorgan Chase and many other western financial institutions appear to have held and managed billions in Libyan state oil money under the rule of Col. Muammar al Gaddafi.

A release to the media from Global Witness early this morning began:

LONDON and WASHINGTON, DC – HSBC and Goldman Sachs are among the key western bankers for Colonel Gaddafi’s regime, a 2010 document leaked to Global Witness appears to show. The document details the whereabouts of state oil revenues. However the Libyan people could not know where it was invested or how much it was, because banks have no obligation to disclose state assets they hold. Global Witness is now calling for new laws requiring banks and investment funds to disclose all state funds that they manage.

Global Witness asked both banks to confirm that they held funds for the state-owned Libyan Investment Authority, and whether they still hold them. They both refused, with HSBC citing client confidentiality. Numerous other banks and financial firms are listed including Societe Generale, UniCredit and the Arab Banking Corporation.

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Sen. Rand Paul Fighting to Gut Terror Finance Laws

May 26, 2011

Global Financial Integrity Managing Director Tom Cardamone has written a new blog post for the TrustLaw website highlighting U.S. Senator Rand Paul’s (R-KY) efforts to gut the USA PATRIOT Act of key anti-money laundering/anti-terror financing provisions. The key provisions are set to expire Friday morning unless the U.S. Congress renews them before then.

Referencing two of Senator Paul’s eight proposed amendments to the act, Cardamone writes:

Two of the Paul amendments deal with Suspicious Activity Reports (SARs) that money services businesses are required to submit to the Treasury Department when terrorist financing, money laundering or other illegal financial activity is suspected. Paul sees this requirement as a violation of the fourth amendment to the constitution, which protects Americans against illegal search and seizure. He explained this position during a speech on the Senate floor on Tuesday.

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