The African Development Bank (AfDB) and the Coalition for Dialogue on Africa (CoDA) have launched a three-year support project to improve regional coherent and coordinated responses to illicit financial flows (IFFs). The project aims to ensure that policies and practices… Read More ›

IFFs
Lessons from Venezuela’s illicit gold trade applicable to IFFs more widely says Brookings
Difficulties associated with tracing illicit gold flows and the large number of actors involved in gold smuggling have contributed to a crisis with limited chances to even engage in efforts to address the issue of illicit financial flows (IFFs) from… Read More ›
Implications for financial institutions and IFFs as UN votes to assume responsibility for global tax rulemaking from OECD
The United Nations (UN) General Assembly has adopted a resolution that mandates the UN to assume responsibility for rulemaking on global tax. For sixty years the lead role for global tax rulemaking has been taken by the OECD, and the… Read More ›
Inadequate due diligence and beneficial ownership transparency facilitating US$23 billion illegal fishing industry
Lax supply chain due diligence and a lack of beneficial ownership transparency are amongst factors allowing one-fifth of the global fisheries market to be captured by operators involved in illegal, unreported, and unregulated (IUU) fishing, a new report from the… Read More ›
China’s belt and road initiative to fuel IFFs and TBML
China’s belt and road initiative (BRI), the massive global infrastructure development strategy aimed at reshaping global trade routes, has improved transport corridors according to a report published by Global Financial Integrity (GFI) and London university’s Kings College. But these improved… Read More ›
Global Forum reports on African plans and progress to stem IFFs
A lack of transparency facilitates all types of illicit financial flows (IFFs) in Africa, including money laundering and terrorism financing, corruption as well as tax evasion according to a new report published by the Global Forum on Transparency and Exchange… Read More ›
EU-UN study suggests sanctions for Eastern European banks for SARs and customer identification failures
Illicit financial flows (IFFs) in the EU’s Eastern Partnership (EaP) region, can be estimated at around €29 billion (US$31 billion) every year according to a new study released by the EU and the UN Interregional Crime and Justice Research Institute…. Read More ›
Financial institutions’ critical role in combatting wildlife trafficking outlined in new FinCEN report
The US treasury department’s Financial Crimes Enforcement Network (FinCEN) has released a Financial Threat Analysis on wildlife trafficking threat patterns and trend information identified in Bank Secrecy Act (BSA) data. The report aims to further inform efforts to combat wildlife… Read More ›