Raymond W. Baker

Founding President of Global Financial Integrity (@IllicitFlows). Author. Entrepreneur. Member UNECA HLP on Illicit Flows from Africa. @HarvardHBS @GeorgiaTech

[Raymond W. Baker @Raymond_Baker]

I'm happy to see an adapted essay from my new book Invisible Trillions (out today!) in Barron's. Read about how making beneficial ownership public would tame our financial secrecy problem. https://t.co/dQwmQ7Dd64

[Raymond W. Baker @Raymond_Baker]

My new book, Invisible Trillions: How Financial Secrecy Is Imperiling Capitalism and Democracy--and the Way tp Renew Our Broken System, comes out next week. Find out more on my website: https://t.co/z7Uc555XAp

[Global Financial Integrity @IllicitFlows]

“There is more than enough money in the world to meet the UN Sustainable Development Goals. We just need to make sure we curtail outflows from and maximize inflows to developing countries” #FinancingSDGs @Raymond_Baker

[Global Financial Integrity @IllicitFlows]

Filling the SDGs funding gap. How do we do it?

@Raymond_Baker opening up this very necessary discussion, with @FanwellBokosi, Inés Bustillo @eclac_un, @TCardamoneJrGFI, Ben Dickinson @OECDtax, @jon_lomoy, @channing_may, and Emmanuel Nyirinkindi @IFC_org

[Global Financial Integrity @IllicitFlows]

How can we expect the #SDGs to be attained if we can't fill the funding gap?

Join us on 11 April for an important discussion w/ @noradno @eclac_un @OECD @IFC_org @UNDP on how to curtail illicit outflows and maximise inflows in developing countries. https://t.co/LN2BCXuCZu

[Raymond W. Baker @Raymond_Baker]

Variously estimated at $1 trillion to $2 trillion annually, the funding gap must be met if the SDGs are be reached. Please join us on the 11 April for this crucially important discussion https://t.co/5qK9qoIJ0o

[Global Financial Integrity @IllicitFlows]

How can we expect the #SDGs to be attained if we can't fill the funding gap?

Join us on 11 April for an important discussion on how to curtail illicit outflows and maximise inflows in and out of developing countries. https://t.co/LN2BCXuCZu

[Global Financial Integrity @IllicitFlows]

Is it easier to get a library card or form an anonymous shell company in the US?

Our latest report, titled "The Library Card Project", finds that more personal information is required to obtain a library card than it is to form a shell company: https://t.co/COkwNgH2i0

[Global Financial Integrity @IllicitFlows]

Nigeria lost a total of $217 billion to illicit financial flows between 1970 and 2008. 92.9% of that amount is reportedly linked to the oil and gas sector, according to latest report by @nigeriaeiti https://t.co/3NxMTMGOTf

[OECD Tax @OECDtax]

African countries report progress in the fight against #taxevasion and illicit financial flows.

New #taxtransparency in #Africa report 📗👉 https://t.co/O5zDjUzBOt

[Raymond W. Baker @Raymond_Baker]

15 per cent of African wealth is held in tax havens ($203bn) where it is hard to reach by tax authorities, explains @MattiKohonen. That is 50 per cent higher than the world average of 9.8 per cent. https://t.co/1JCNZTHYWk

[Global Financial Integrity @IllicitFlows]

Several nations have trade misinvoicing levels significantly higher than the global average of 18% including:

- Sierra Leone (39.8%)
- Georgia (34%)
- Botswana (31.8%)
- Maldives (29.6%)
- Ethiopia (29.3%)
- The Bahamas (29%)
- Cameroon (26%).

[Global Financial Integrity @IllicitFlows]

Trade-related Illicit Financial Flows (IFFs) are significant and persistent features of developing economies. Our latest analysis shows that trade misinvoicing is equivalent to 18% of total trade with advanced economies among all developing countries. https://t.co/e5nAhufx0P

[Raymond W. Baker @Raymond_Baker]

"There is money that leaves the continent as a result of theft by Africans, whether by government or private sector people. But the bulk of the funds that flow out of the continent is taken by big corporations" Thabo Mbeki. https://t.co/FkbbTcHPOu

[Daniel Neale @danieneale]

ABLV, Pilatus, Goldman, Deutsche, and Danske top our list of worst offenders of 2018. Some were shut down for links to criminal activity. Others processed hundreds of billions of illicit cash. What to expect in 2019? Find out in Part 2 of my blog post: https://t.co/xHczMT6Xqz

[Global Financial Integrity @IllicitFlows]

What were the top (or bottom) 10 money laundering cases of 2018? Our latest blog post from @daneallaguno looks at how large banks have failed to act as gatekeepers against dirty money. Part 2 to follow shortly. https://t.co/bh7zqXLWfA

[Raymond W. Baker @Raymond_Baker]

Combatting IFFs is an African priority, but countries around the world have a role to play. The new Congress has an opportunity to contribute to ending this chapter and achieving fundamental rights for many in Africa. https://t.co/Pr5gL4zrR1

[Global Financial Integrity @IllicitFlows]

"It is imperative to ensure that the illicit economy unit is established as a law enforcement unit, rather than an intelligence unit, and that its powers and functions are clearly set out in law, by @sarstax" https://t.co/VrZxyE68MI

[Global Financial Integrity @IllicitFlows]

The UK's Anti-Corruption Strategy mentions the role of anti-corruption and transparency in trade agreements. We believe this should be extended by urging the UK to include provisions to make trade misinvoicing illegal in any future UK trade agreements. https://t.co/uo0EQxohS1

[Global Financial Integrity @IllicitFlows]

IFFs are “the ugliest chapter in international affairs since slavery" says @Raymond_Baker. The incoming Congress has an opportunity to contribute to ending this chapter and achieving fundamental rights for many in Africa. https://t.co/HN4lJNO2LD

[TM African School of Public &International Affairs @MbekiSchool]

Interesting article on Ilicit Financial Flow - "Corporate malfeasance saps the African continent of billions in badly needed funds each year — and the U.S. is a top destination." https://t.co/SWYYKmsJRC