Measuring OECD Responses to Illicit Financial Flows from Developing Countries
- The Organisation for Economic Co-operation and Development (OECD)
- Publication Date:
- 5 February 2014
- Africa, Economy, Business and Finance, Corruption
THE ISSUE OF ILLICIT FINANCIAL FLOWS is at the forefront of the international agenda.Governments worldwide are joining forces to combat money laundering, tax evasion and international bribery, which make up the bulk of IFFs. Although the exact scale of the problem is unknown, IFFs have devastating effects on developing countries. Instead ofattempting to quantify precisely what is by definition a hidden activity, now is the time to determine where public funds should best be targeted to make the most impact.
Illicit money outflows are draining Africa's domestic resources, depriving it of crucial investment funds. Read more »