Financial Transparency Coalition

WASHINGTON, DC – Illicit financial flows from developing and emerging economies surged to US$1.1 trillion in 2013, according to a study released Wednesday by Global Financial Integrity (GFI), a Washington, DC-based research and advisory organization. Authored by GFI Chief Economist Dev Kar and GFI Junior Economist Joseph Spanjers, the report pegs cumulative illicit outflows from developing

PRESS RELEASE As 6th Financial Transparency Conference ends, work on illicit financial flows is only getting started Though local and regional contexts vary, participants from around the world see common thread in issues of tax and transparency  

On June 25, 2015, the Interim Working Group of the African IFF Campaign Platform will launch the “Stop the Bleeding” campaign in Nairobi, Kenya. The goal of the campaign is to curb the Illicit Financial Flows (IFFs) from Africa that perpetuate poverty and hinder development across the continent.

African leaders made a strong declaration on the importance of curbing illicit financial flows when they endorsed a new report on the problem at the African Union Summit in January. The report, produced by the Mbeki High Level Panel on Illicit Financial Flows from Africa, estimated that Africa was losing between $50 billion and $150