Illicit Financial Flows
- Addis Ababa United Nations Economic Commission for Africa 2014
- 12p.
Illicit financial flows occur mainly through corruption, illegal resource exploitation and tax evasion. Acts of corruption include bribes paid by companies and money embezzled from tax collection and budgetary allocations. Illegal resource exploitation has to do with undeclared corporate revenues from illegal resource exploitation and tax evasion (including smuggling and transfer pricing). These forms of illicit financial flows have dire consequences for the revenue streams of the extractive industry.
