Financial Transparency Coalition

Corruption, Drug and Gun Crime, Tax Evasion Caused Mexico to Lose $872 Billion in 4 Decades Hispanically Speaking News, June 20, 2012 UAE reviews anti-money laundering measures with US and Russia Khaleej Times (United Arab Emirates), June 21, 2012 Cuba brushes off Miami money laundering allegations Reuters, June 20, 2012 UBS fined for anti-money laundering

It’s not often that the G20, the summit of the leaders of the world’s biggest economies, is merely a preamble to a European meeting. But this week it is. When the world’s leaders met in Los Cabos, Mexico they had one thing on their mind: Europe. And while the leaders of the G20 had a lot to say about the European debt crisis, the real test, and the real action, will happen in Brussels next week, where we expect the European Council to agree to an action plan. In Mexico, European leaders hinted at how this plan might look: a...

Lisa Ann Elges of Task Force coordinating committee member Transparency International praised the latest draft of the G20's "Future We Want" document on Monday for including a goal of anti-corruption. Indeed, as climate change becomes a greater problem that requires mobilization of finances, the current level of corruption will threaten any form of assistance, aid, and prevention. After the 2009 cyclone Aila, for instance, Khadija Begum of Bangladesh complained to Transparency International that the builders constructing her new home, financed by foreign aid, sold the iron and concrete they were given and, instead, constructed a wall-less home of tin...

Wednesday's Top News Stories from Global Financial Integrity.