Illicit Financial Flows: A Global Challenge Underestimated World Bank CORRUPTION BALANCE OF PAYMENTS CAPITAL FLIGHT CAPITAL OUTFLOW DEBT FAKING TRANSACTIONS ILLICIT WEALTH MONEY LAUNDERING SMUGGLING TAX EVASION UNDERPRICING An article based on the presentations made during the World Bank’s 2014 Annual Meetings, the World Bank Group convened a public forum on illicit financial flows with high-profile speakers from Bangladesh, Denmark and Norway, as well as the Washington, D.C.-based research and advocacy organization Global Financial Integrity. The speakers at the forum stressed the need for a higher pace and a broader range of actions to curb the negative impact of illicit financial flows on sustainable development. Major issues that arose include ,the effects of IFFs,Global initiatives to curb IFFs as well as the role of International Corruption Hunters. Washington DC World Bank 2014. 2014. Text 4p. iffoadatabase.trustafrica.org/iff/illicit_financial_flows.pdf