Colombia’s illegally armed groups are using legal gold exports to launder money on an industrial scale and using trade-based money laundering (TBML) techniques such as misinvoicing to export illegally mined gold according to a study of how outlaw militias play a… Read More ›
The International FinanceCorporation (IFC) and the Swiss government have jointly launched a business transparency initiative in East Africa that will address the issue of illicit financial flows (IFFs) through misinvoicing. The overarching aim of the initiative is to promote corporate… Read More ›
Nearly $20bn flowed illegally out of Myanmar between 1960 and 2013, according to a report by Global Financial Integrity (GFI). The non-profit watchdog over illicit financial flows says that smuggling of imports via fraudulent misinvoicing accounts for 71% of Myanmar’s… Read More ›