International institutional architecture tackles the question of who makes the rules of global finance. Currently, developing countries are often left out of the standard setting and decision-making forums. By leaving developing countries out of the process, there is the risk that new international standards will benefit rich countries only, and will create wide loopholes that allow the continued flow of illicit cash.
Read our newest brief on ‘who makes the rules’ on illicit financial flows here.
We are taking a closer look at the professionals who hold the keys to the financial sector. When illicit financial flows are debated, there is often too little focus on the industries and people that aid money laundering, tax evasion and avoidance. By leaving out a discussion of the individuals and industries involved, it’s harder to hold them accountable, which is an important step in curtailing illicit financial flows.
Stay tuned for our upcoming work on this issue.