Nyoni ,Mthandazo creator text Bulawayo Southern Eye 2014 monographic 2p. ZIMBABWE has lost billions of dollars since 2002 through serious fiscal leakages and violation of exchange controls, under-invoicing or transfer pricing, an expert has said. Fiscal leakages in the mining sector are still alarming. In 2007, illegal trading smuggling was prejudicing Treasury between $40 million and $50 million a week. In 20011 and 2012 Treasury claimed to have received $41 million, but Mbada Diamonds claimed to have remitted over $117 million in 2012 alone.” There is falsifying (of) foreign currency loan payments, hoarding and illegally dealing in foreign currency, colluding with external traders to over-invoice imports. There is need for the government to train the police and judiciary officers in economic crimes in order to curb illicit financial flows in the country. Lack of adequate training hampers the investigations and prosecution of cases of illicit financial flows. A study undertaken by research firm, Global Financial Integrity, revealed that Zimbabwe could have lost $12 billion in the past three decades through illegal financial outflows that included secret financial deals, tax avoidance and illegal commercial activities. ADVANCE FREE-FRAUD CAPITAL FLIGHT CAPITAL OUTFLOW COUNTERFEITING CORRUPTION ENVIRONMENT GOOD GOVERNANCE ILLICIT WEALTH MONEY LAUNDERING SMUGGLING NATURAL RESOURCES TAX EVASION http://iffoadatabase.trustafrica.org/iff/zim_losing_billions_to_corruption.pdf http://iffoadatabase.trustafrica.org/iff/zim_losing_billions_to_corruption.pdf