Illicit financial flows (IFFs) are the lifeblood of crime and corruption. Each year, millions of Euros of IFFs flow through the Western Balkans, despite significant government efforts to prevent this type of crime.

This report completes our study of illicit financial flows (IFFs) in the Western Balkans. Our focus this time is Bosnia and Herzegovina, Montenegro and Serbia. IFFs are the mechanisms by which money earned illegally is transferred into and out of economies to criminal beneficiaries worldwide. Each year, large sums of money are transferred out of developing and transitioning economies. These are funds that could have been used for public and private goods: public services, investment or jobs. The whole society suffers as a result of their loss. Accompanying the report, our webinar will stimulate a conversation around key issues of IFFs in Bosnia and Herzegovina, Montenegro and Serbia and the broader Western Balkans region. The event will feature insights from experts on the topic from the three focus countries as well as other experts on IFFs to look at the problem and effective responses to it.