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Global Financial Integrity Profile picture
Global Financial Integrity
@IllicitFlows
We are a think tank providing analysis, ideas and solutions to the problems of illicit financial flows, trade misinvoicing and transnational crime.
Apr 26, 2023 • 5 tweets • 4 min read
Live now 🚨

Our Illicit Trade Director @cmavrellis testifying at @GOPoversight hearing.

"The drivers behind the involvement of Chinese Money Laundering Organizations are solidly linked to other countries domestic policies, not U.S. immigration"

Image "While other professional MLOs profit from the purchase of criminal proceeds, CMLOs’ primary objective is to gain access to U.S. dollars outside of formal channels in order to evade #China’s currency controls" @cmavrellis at @GOPoversight
Aug 16, 2022 • 4 tweets • 2 min read
#GFIWeeklyGraphic

U.S. real estate continues to remain a favored destination for illicit activity.
Global Financial Integrity built a database of more than 100 real estate money laundering cases from the U.S., UK, & Canada reported between 2015-2020.

Thread: 1/3 Image The use of anonymous shell companies and complex corporate structures continues to be the number one money laundering typology.

2/3 Image
Aug 16, 2022 • 6 tweets • 4 min read
GFI comments to the @BRS_Kenya on the review of Beneficial Ownership (BO) framework.

Read the latest recommendations from @IllicitFlows by @wahomejackie & @LaksKumar_GFI

@TIKenya @ogpkenya

THREAD:

ow.ly/qCOa50KkMht. Key recommendations:

1. Verification: To ensure accuracy of Beneficial Ownership information and to comply with FATF Recommendation 24, a provision that provides for a verification of Beneficial Ownership data.
Feb 28, 2022 • 4 tweets • 2 min read
US sanctions on #Russia following the invasion of #Ukraine include freezing assets such as real estate.
GFI found a significant % of money laundered through real estate comes from abroad & involves Politically Exposed Persons like those being sanctioned.🧵
gfintegrity.org/report/acres-o… In the UK and Canada, GFI found top origins of foreign money laundered through real estate included Russia, as well as a significant number of Russian PEPs involved in this real estate money laundering.