01088nam a22001337a 4500 Daily News Illicit transactions cost Zim $2,6bn Harare Daily News 2015. 1p The article tackles IFFs in Zimbabwe ,the major players and the major causes.The article is based on a study by Global Financial Integrity (GFI). Zimbabwe is said to have lost approximately $2,6 billion in the nine years to 2012 due to IFFs. Zimbabwe recorded alarming imports over-invoicing and under-invoicing during the period. While the years 2003, 2008, 2011 and 2012 recorded no illicit financial flows, GFI says the year 2004 saw Zimbabwe recording $306 million in illicit financial flows (both inflows and outflows), which increased to $354 million in 2005, and further to $1,7 billion in 2006, before declining to $97 million in 2007. MISPRICING MISINVOICING BANKING SECRECY BALANCE OF PAYMENTS CAPITAL OUTFLOW MISPRICING UNDERPRICING http://iffoadatabase.trustafrica.org/iff//illicit_transactions_cost_zim_$2,6bn.pdf NA 335 335