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Africa Struggling to Tackle Illicit Capital Flows

Money illegally transferred across borders has more than doubled to U.S.$100 billion annually from U.S.$50 billion in 2015, but a lack of cooperation and information exchange between countries is limiting efforts to prevent illicit financial flows, experts say.

Africa: Africa Struggling to Tackle Illicit Capital Flows

East African, 16 May 2018

Lack of cooperation and information exchange between countries is limiting Africa's efforts to prevent illicit financial flows, experts have said. Read more »

Health Poverty Action

The relationship between development aid and capital flows from Africa.

Africa: Experts call for combined forces to stem illicit financial flows

UNECA, 14 May 2018

ADDIS ABABA, 13 MAY 2018: Experts have called for combined forces to stem the illicit movement of money and capital from one country to another amid revelations that illicit… Read more »
Kenya: Will New Legislation Turn Kenya Into a Tax Haven?

ISS, 20 April 2018

A recently passed law could make it easier for companies to dodge tax in Kenya. This could increase the rate of illicit financial flows and, contrary to government's goals,… Read more »

InFocus

Angola Recovers U.S.$500 Million Illicit Transfer

Angola has recovered the U.S.$500 million transferred to a bank account in London in an allegedly illicit operation involving José Filomeno dos Santos, the son of the ... Read more »
- Angola: Central Bank Recovers U.S.$500 Million From London Bank
Nigeria Ratifies Treaties to Curb Tax Evasion by Multinationals

Nigeria reportedly lost about U.S.$1 trillion last year to tax evasion, and U.S.$178 billion to illicit financial flows in the last 10 years. The government said to address the ... Read more »
- Nigeria: Nigeria Receives U.S.$3.7 Billion Revenue in Taxes, Royalties
- Nigeria: Nigeria Lost $1 Trillion to Tax Evasion By Multinationals in 2016 - Osinbajo
Activists Serious About Tackling Illicit Capital Flows

Civil society representatives are demanding that the UN trade body's conference outcome document deals with curbing tax evasion and avoidance. Read more »
- Kenya: Lobbyists Caution UNCTAD Against Empty Rhetoric
- Kenya: UNCTAD Warns Export Earnings Hurt By Under Invoicing

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