Quantifying illicit financial flows from Africa through trade mis-pricing and assessing their incidence on African economies AfDB ADVANCE-FREE FRAUD, BANKING SECRECY, CAPITAL FLIGHT, CAPITAL OUTFLOW, CORRUPTION The research paper focuses on capital flights from developing countries, that have increased tremendously in the last decade. A large portion of these flows occurs via illicit means. The paper is comprised of four sections in total. Section 2 attempts to unpack the key concepts related to illicit financial flows and their definitions, as well as the different methodologies typically used in quantifying IFF. Section 3 discusses the methodology adopted for the analysis and results from quantifying IFF in Africa, while Section 4 discusses the methodology and findings from economic implications of such losses on African countries based on a CGE assessment. Section 5 concludes and discusses policy implications of IFF losses for Africa. Johannesburg: AfDB, 2013. 2013. Text 33p. http://iffoadatabase.trustafrica.org/iff/aec_2013_quantifying_illicit_financial_flows_from_africa.pdf