Cash intensive local businesses are used to funnel proceeds of extortion into apparently legitimate business bank accounts according to a new report published by Global Financial Integrity (GFI). Proceeds of extortion have also been used by criminals to purchase businesses… Read More ›
Allowing environmental, conservation, and anti-corruption organisations to access export invoices and trade data to identify misinvoicing could help curb environmental crime, including illegal mining, logging, fishing, and wildlife trafficking, according to a virtual convention on environmental crime related illicit financial… Read More ›
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 ›
Trade is one of the three mechanisms or ‘channels’ – alongside cash movement and the financial system – identified for transferring millions of illegally obtained euros generated from corruption, tax evasion and organised crime through Bosnia and Herzegovina, Montenegro and… Read More ›
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 ›
An estimated US$1.6 trillion in potential trade misinvoicing among 134 developing countries has been identified in 2018 according to a new report published by Global Financial Integrity (GFI). Trade-related Illicit Financial Flows in 134 Developing Countries 2009-2018 says that of that US$1.6… Read More ›
Reintroducing large commercial banks into the oil and gas commodity trade could be a way to reduce the volume of illicit financial flows (IFFs) out of resource-rich developing countries according to a new report published by the Organisation for Economic… Read More ›
The US will work with international partners as well as domestically to prevent, limit, and respond to corruption and related crimes in a significant overhaul of the way it targets public corruption that includes a clear focus on international trade… Read More ›