2019 OECD Global Anti-Corruption and Integrity Forum

Illicit financial flows (IFFs) are a global phenomenon and yet their economic, social and stability impact is particularly evident in high vulnerability countries contexts, or countries that rely on natural resources and already grapple chronic fragility and episodic conflict. IFFs have been known to strip these countries of the essential development resources and have potential spill-over effects, such as increased instability and violence. A recent OECD report, IFFs: The Economy of Illicit Trade in West Africa has found that the distinction between licit and illicit activities is often blurred, and that financial exclusion is a leading driver of IFFs.
 
This session will discuss how illicit criminal activities interact with the economy, security and development of developing and transition countries and look at policy approaches that account for IFFs’ dynamic nature and complex links across source, transit and destination countries.