RISKS OF ILLICIT FINANCIAL FLOWS IN AFRICA

Illicit financial flows, especially those related to corruption, are notoriously difficult to measure. To aid regional and global efforts for combatting them, we have identified key factors that make African countries susceptible to illicit financial flows linked to corruption.

Given the inherent challenges in calculating the volume of illicit financial flows, especially those emanating from corruption, we have aimed to identify some of the key risk factors which make African countries vulnerable to outflows of illicit financial flows. We have focused on nine countries: the Republic of the Congo (Congo), Côte d'Ivoire, Ethiopia, Kenya, Mauritius, Morocco, Nigeria, South Africa and Zambia.

This report explores what is known about the types, sources and destinations of illicit financial flows in these countries, and identifies some of the governance and structural drivers which exacerbate the risks of illicit financial flows. It also explores efforts to combat illicit financial flows in the target countries, focusing on key elements of the anti-money laundering regime.