Monday, April 6, 2015
Illicit flows from sub-Saharan Africa.
Illicit financial flows (IFFs) from sub-Saharan Africa (SSA) are estimated to be worth up to 50 billion annually, according to a recent UN report. The transfer of illicit flows through international financial systems has created opportunities for governments in European destination countries to recover plundered funds and prosecute those involved. These efforts set new legal precedents, but the rulings will be difficult to implement where governments are worried about the effect on investor sentiment.