Posted on: 26 November 2019
IFFs are difficult to detect and prosecute when regulatory systems lack integrity, transparency, and accountability.
Africa is estimated to lose billions of dollars annually to illicit financial flows (IFFs). While the numbers are immense, even they do not capture the full range or degree of harms resulting from IFFs. Furthermore, international definitions, measures and regulatory frameworks are not always appropriate for the African context. As such, a stronger understanding of how IFFs are generated and moved and their impact is needed to better respond to African IFFs and prioritise action against the flows and activities that are the most harmful.
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