ILLICIT FINANCIAL FLOWS IN AFRICA
Money wasted: $80 billion-plus
Illicit financial flow (IFFs) refers to the deliberate loss of financial resources through under-invoicing practices that may include natural resource plundering and illicit wildlife trades. Harming its developing infrastructure, Africa incurs as much as half of the world’s losses through IFFs, with one estimate putting the amount lost through illegal mining practices alone at $80 billion annually.
