The Organisation for Economic Cooperation and Development (OECD) has developed a framework that aims to support domestic resource mobilisation by countering illicit financial flows (IFFs) and improve tax systems to boost revenue capture. The Tax Crime Investigation Maturity Model is… Read More ›
Illicit financial flows
African conference on IFFs and taxation focuses on coronavirus impacts
The 8th Pan Africa Conference on Illicit Financial Flows and Taxation held in the Ghanaian capital, Accra, focused on the impact of the coronavirus pandemic and on the urgent need for African countries to optimise public revenues from their natural… Read More ›
UN agencies finalise framework to measure illicit financial flows
The United Nations Conference on Trade and Development (UNCTAD) and the United Nations Office on Drugs and Crime (UNODC) have finalised a conceptual framework for the statistical measurement of illicit financial flows (IFFs). Pilot projects are either underway or due to commence… Read More ›
Kenya broadcasts IFF-focused radio programmes
Transparency International Kenya (TI-K), Global Financial Integrity (GFI) and Haki Yetu, a Kenyan NGO focused on human rights have broadcast three radio shows discussing the impact illicit financial flows (IFFs) have had on Kwale County in southern Kenya. The county… Read More ›
GFI announces cloud-based tool to detect misinvoicing
Global Financial Integrity (GFI), the Washington-based non-profit best known for its work researching and lobbying to prevent illicit financial flows, has developed a cloud-based risk assessment application to detect misinvoicing. GFTrade provides accurate results efficiently, consistently and with minimal training… Read More ›
Australian financial services watchdog issues guide to combat illegal wildlife trade, money laundering and illicit fund flows
The Australian government’s financial intelligence agency that monitors financial transactions to identify money laundering and other financial crimes has issued a guide for financial institutions to combat illegal wildlife trafficking trade by identifying, targeting and reporting suspicious financial activity. The guide issued by… Read More ›
Ethiopia issues new currency notes to choke illicit financial flows
The Ethiopian government has issued a higher denomination banknote as part of its efforts to address the problem of significant illicit financial flows (IFFs) out of the country. The new note, alongside more secure versions of notes in existing denominations,… Read More ›
Trade-based financial crime and misinvoicing in Albania, Kosovo and North Macedonia
A new report from the Global Initiative against Transnational Organised Crime has found significant evidence of trade-based financial crime in Albania facilitated by misinvoicing. Illicit Financial Flows in Albania, Kosovo And North Macedonia looks at illicit financial flows (IFFs) all three… Read More ›