ILLICIT FINANCIAL FLOWS (IFF) – INDICATORS OF TRADE-BASED MONEY LAUNDERING AND OTHER ILLEGAL ACTIVITY

The Inter-Agency Task Force on Financing for Development (IATF) is a UN initiative, see –

https://developmentfinance.un.org/illicit-financial-flows

It says that there is currently no single tool or process capable of effectively measuring or estimating IFF.  Indeed, measuring and tracking illicit flows is extremely challenging, since there is as of yet no firm agreement on the conceptual framework of an illicit financial flow.  The lack of a definition makes it hard for such flows to be transparently or systematically recorded in a co-ordinated fashion.  IFF also, of course, may be indicators of, trade-based money laundering, and so the information provided by the IATF is always of interest from that perspective.

IIIA_fig4_IATF_2017

The following tables therefore have a money laundering interest as well as being relevant to the larger IFF debate.

IFF 2

IFF 1

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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