NEW STUDY AND TOOL FOR ASSESSING RISKS OF ILLICIT FINANCIAL FLOWS IN LATIN AMERICA

The Tax Justice Network on 28 January said that the TJN has published its new study (in English and Spanish) on the vulnerability and exposure to illicit financial flows risk in Latin America.  It is the most comprehensive and systematic analysis of illicit financial flows risks in Latin America to date, and provides the basis for granular policy decisions. Illicit financial flows (IFF) are transfers of money from one country to another that are forbidden by law, rules or custom.  They encompass flows from both illegal origin capital (classic money laundering, arms, drugs, human trafficking, corruption) and legal origin capital (tax evasion and avoidance).  The report offers 3 broad policy recommendations to counter IFF more effectively –

  • Broadening the availability of statistical data on bilateral economic relationships;
  • Consider Latin American coordination on countering IIF risks; and
  • Embed IFF risk analysis across administrative departments.

https://www.taxjustice.net/reports/vulnerability-and-exposure-to-illicit-financial-flows-risk-in-latin-america/

If you would like to make a (polite) gesture and make a (very) modest contribution to my ongoing costs of relocation, removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y

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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