Cayman Islands to face increase challenge in the EU

The financial services industry in the Cayman Islands is bracing itself for another rocky year. This jurisdiction could be included on the European Union’s list of high-risk third countries for money laundering that pose significant threats to the financial system of...

GFI on trade-related illicit financial flows

GFI documented the international problem of “trade misinvoicing”—when importers and exporters deliberately falsify the declared value of goods on the invoices they submit to their customs authorities to illicitly transfer money across international borders, evade tax...

EU plans new rules against tax avoidance

The tax discussion at the plenary session of the EU parliament was added to the agenda after reports this week on a large leak of tax data, known collectively as the “Pandora Papers”, which showed how the rich and powerful continue to systematically use...