Revenue Watch partner Global Witness has released a new report, "Undue Diligence: How banks do business with corrupt regimes," examining how major banks are playing a role in perpetuating the resource curse by doing business with unethical regimes. Global Witness has uncovered ties between banks and dictatorial regimes in Equatorial Guinea, vicious civil wars in Africa, human rights abusers in Central Asia and opaque extractive companies operating in Angola. The report recommends that anti-money laundering laws be tightened as well as a cultural change in the way banks perform "due diligence" in checking their customers. Read more ... (Global Witness)
