Illicit financial flows from Africa

The figures are staggering: between $1.2 trillion and $1.4 trillion has left Africa in illicit financial flows between 1980 and 2009—roughly equal to Africa’s current gross domestic product, and surpassing by far the money it received from outside over the same period. Illicit financial flows are money earned illegally and transferred for use elsewhere. The money is usually generated from criminal activities, corruption, tax evasion, bribes and transactions from cross-border smuggling.