Africa Loses $50 Billion a Year Through Tax Avoidance, Fraud
Africa's money that could be used to improve lives and reduce poverty is leaving the continent through illicit financial flows defined as money illegally earned, transferred and used.
Pile of coins.
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Africa:
Tackling Africa's Illicit Finance Flight
Daily Maverick, 19 May 2015
This week, delegates from across the world are meeting at the University of Johannesburg to discuss financial transparency and human rights. It sounds boring, but tackling illicit… Read more »
InFocus
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Illicit capital flows out of developing and emerging economies reached a record level in 2012, according to the latest study released by the Washington, DC-based research group, ... Read more »
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"Illicit financial flows are unrecorded capital flows derived from: (a) proceeds of theft, bribery and other forms of corruption by Government officials; (b) proceeds of criminal ... Read more »