Financial Transparency Coalition

What do you call an entity with huge amounts of money, a monopoly on a hugely popular good, and no transparency or accountability structure whatsoever? The answer is not a corporation or a corrupt dictator. It’s FIFA. FIFA (in French: Fédération Internationale de Football Association) has a long history of bribery, questionable profits, scandals, and shadowy deals. As Tax Justice Network has shown, the organization has created its own “tax bubble,” forcing nations out of tax revenue by negotiating tax exemption from all types of levies, including income and sales taxes. Christian Aid has, for example, shown that in the...

This thought-provoking documentary from Exposure looks at the British Bribery Act and overseas bribery by British companies. In particular, it focuses on extractive industry companies in Nigeria. The documentary quotes Task Force member Global Witness's Simon Taylor, and highlights the push for a Dodd-Frank 1504-style transparency law for European companies.

Today, the U.S. Department of Justice (DOJ) and Securities and Exchange Commission (SEC) released long-awaited guidance on Foreign Corrupt Practices Act (FCPA) enforcement. The FCPA prohibits U.S. multinationals from bribing foreign officials in almost all cases. It is considered the keystone anti-bribery law in the world, and has been vigorously enforced over the past decade by the U.S. Department of Justice, after a spotty record of enforcement since its 1977 passage.

WASHINGTON, DC – Civil society organizations welcomed today's release of the Department of Justice (DOJ) and Securities and Exchange Commission's (SEC) new guidance for businesses on the Foreign Corrupt Practices Act (FCPA), the U.S. law that makes it illegal to bribe foreign officials. The FCPA creates a strong and effective mechanism to fight financial fraud and corruption, which impede economic growth and raise the costs of doing business internationally.