The article gives an overview of IFFs with much focuse on IFFs in Africa, causes and effects from a global perspective . The African Development Bank estimates that illicit financial flows have drained in excess of a trillion dollars from Africa since 1980. These flows undermine the tax base, damage political institutions and exacerbate inequality .Typically they involve the hidden movement of profits, hidden transfers of ownership, or hidden income streams. The main motivations are tax evasion (corporate and individual); laundering the proceeds of crime (largely human trafficking and drug trafficking); and corruption (including the theft of state assets and the bribery of public officials). It attempts to answer questions such as ,what national or regional countermeasures are likely to yield benefits by reducing IFF? what national or regional countermeasures are needed to meet international responsibilities? , and what scope is there for greater benefits from the ongoing international processes?
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