Tackling Illicit Financial Flows for Sustainable Development in Africa

Refined gold in the DRC. (Photo: Sasha Lezhnev/Enough Project)

Each year, an estimated $88.6 billion is siphoned from the African continent in the form of illicit financial flows (IFFs). This amount is nearly as large as the total development assistance and foreign direct investment received by Africa. IFFs are primarily related to high value, low-weight extractive commodities (gold and diamonds for example) and contribute to the financing of terrorism and some conflicts. Investment in data infrastructure is a priority, along with taxation reform, fighting corruption and money laundering and protecting whistleblowers and media.

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Security Topics:  Combating Organized Crime   Security and Development