Illicit Financial Flows
- Washington DC Global Financial Integrity
- 2p.
The article gives a detailed explanation of IFFs and specific examples that constitutes IFFs. GFI estimates that in 2011, US$946.7 billion left developing countries in illicit financial outflows. This methodology is regarded as highly conservative, as it does not pick up movements of bulk cash, the mispricing of services, or many types of money laundering. The article also gives the impact and effects of IFFs in developing countries. The article attempts to answer questions such as What Impact Do Illicit Financial Flows Have on Developing Countries? Where Does the Money Go? What Can We Do About Illicit Financial Flows?
