Illicit financial flows (IFFs) continue to pose a huge problem, especially for developing countries. One of the main impacts is the hampering of countries’ ability to meet the UN sustainable development goals, because IFFs undermine the fiscal systems which are in place to collect government revenue, and reduce the amount of funds available for development Read more >
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CORRUPTION NEWS
In June this year we reported that South Africa was likely to be removed from the Financial Action Task Force’s (FATF) grey list after that organisation’s next plenary, which took place from 22-24 October. This has now happened, with the FATF announcing that it welcomed “South Africa’s significant progress in improving its AML/CFT regime”. The Read more >
OPINIONS
By Janine Erasmus, with collaboration from Transparency InternationalFirst published on BusinessLive In July finance ministers from G20 countries met in Durban and issued their first joint statement since October 2024. As the first G20 presidency on African soil is now in its final quarter, the communique provides important indicators of how the forum is faring Read more >
CORRUPTION NEWS
By Miroslav Palanský and Moran Harari First published on the U4 Anti-Corruption Resource Centre blog Corruption happens in two main stages. The first is the actual act of receiving something of value: a monetary bribe passed under a table, a public procurement contract awarded to a classmate from high school, a law quietly rewritten to Read more >
CORRUPTION NEWS
Image: International Monetary Fund The G20 Development Working Group (DWG) has released a document outlining its call to action for countries to adopt what it terms voluntary and non-binding high-level principles for combating illicit financial flows (IFFs). The DWG falls under the G20’s Sherpa track and is the key G20 forum for the discussion of Read more >
CORRUPTION NEWS
In February this year we reported that South Africa had addressed all but two of the action items highlighted as regulatory weaknesses by the Financial Action Task Force (FATF), after a mutual evaluation review in 2021. This resulted in the country’s unwelcome debut on the FATF grey list in February 2023. The FATF is the Read more >
CORRUPTION NEWS
The Tax Justice Network (TJN) released the 2025 edition of its Financial Secrecy Index (FSI) on 3 June 2025, following on the previous edition released in 2022. The key finding, says the organisation, is that those countries who provide the most financial secrecy are clearly moving towards autocracy. Of this year’s top 10, says TJN, Read more >
CORRUPTION NEWS
Image: International Monetary Fund Illicit financial flows (IFFs) have been, and continue to be, a huge problem for developing countries, especially. They hinder countries’ ability to meet the UN sustainable development goals, because they undermine the fiscal systems which are in place to collect government revenue, and reduce the amount of funds available for development Read more >
CORRUPTION NEWS
When corruption is exposed, it is a given that the corrupt will fight back tooth and nail, clinging with all their might to that easy and lucrative source of income or power. A new report, released in April 2024 by the Tax Justice Network, reveals how those who operate in secrecy have found a strategy Read more >