New @DFID_UK funded report on Illicit financial flows "A financial integrity perspective" https://cenfri.org/publications/illicit-financial-flows-a-financial-integrity-perspective/ … by @cenfri_org @BarryCoops1 @Albert_vdL Its a valiant attempt to navigate the competing definitions and confusion....but....
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Then a section on the difficulty of AML. It wants to differentiate IFFs from money laundering. But I think what it is really finding is that 'IFFs' are successful money laundering flows that are not caught by AML efforts.
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The tendency in reports on IFF is to repeat what has been said before, so that it looks like a growing volume of knowledge about 'IFFs' as a thing distinct from money laundering. The truth is we know much less than the volume of paper suggests.
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. ...it quotes statements like GFI's that "trade and transfer mispricing are responsible for some 80% of IFFs" but doesn't make any attempt to analyse whether this is well evidenced.