Washington is preparing to expose and contain what it sees as “malign Russian activities” in Africa’s oil, gas and mining sectors in which individuals and entities connected with Russian President Vladimir Putin appear to be playing an increasingly big role…. Read More ›
Trade-based tax evasion and money laundering cost the US government more than US$640 billion in taxable income during 2021 according to a new report commissioned by Sēk Strategies, a Washington-based consultancy firm focused on transparency, accountability, human rights and the… Read More ›
A toolkit aimed at supporting financial institutions in addressing and reporting suspicious transactions relating to the illegal wildlife trade (IWT) has been launched. Developed by the UK Serious Organised Crime Network in collaboration with the UAE government, WWF, TRAFFIC and… Read More ›
Mispricing of gold and cocoa exports from Ghana has contributed to significant tax base erosion from one of Africa’s most resource rich countries according to a new paper based on an innovative methodology for measuring abnormal pricing. Instead of using… Read More ›
Dubai-based Mashreqbank’s agreement to pay US$100 million in penalties for its deliberate omission of payment transactions with ties to Sudan in violation of US sanctions against the African country may serve as a warning to banks with US operations to… Read More ›
Co-mingling illegally obtained wildlife product with other commodities such as sugar, maize or fuel is one of several ways criminals are disguising their activities in the illegal wildlife trade (IWT) in South Africa according to a new report. Financial Flows… Read More ›
An extensive new report examining financial crime in Kenya provides details of several trade-based money laundering (TBML) vulnerabilities in the country’s natural resources sectors. It also demonstrates how trade and Kenyan banks play a part in the country’s role facilitating… Read More ›
“The African Legal Support Facility (ALSF) must assist African countries to negotiate fair and balanced contracts to eliminate opportunities for illicit receipt, use, or transfer of funds,” says former president of South Africa and current chair of the African Union’s… Read More ›