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Curbing Illicit Financial Flows

In: The Palgrave Handbook of Development Finance

Author

Listed:
  • Augustus Muluvi

    (Egerton University)

  • Martin Nandelenga

    (African Development Bank)

Abstract

There is a growing international concern around illicit financial flowsIllicit financial flows (IFFs) as outlined in many policy dialogues since mid-2010s. Some of these include the Sustainable Development Goal target 4 of Goal 16 which aims to “significantly reduce illicit financial and arms flows, strengthen the recovery and return of stolen assets and combat all forms of organized crime by 2030 (UN 2015); the African Union committed to halve IFFs by 2023 (NEPAD in Africa action plan on development effectiveness. NEPAD Agency, 2014. www.nepad.org/resource/africa-action-plandevelopment-effectiveness ); the Addis Ababa Action Agenda (AAAA) which commits to substantially reduce IFFs by 2030, the AU’s Agenda 2063 which cites curbing IFFs as a key tactic to achieving domestic resource mobilization as a source of finance (AU in Resolution adopted by the General Assembly on 27 July 2015: Addis Ababa Action Agenda of the Third International Conference on Financing for Development [Addis Ababa Action Agenda] [A/RES/69/313], 2015) and the African Development Bank which has adopted a strategic framework and action plan to prevent IFFs in AfricaAfrica (AfDB in Strategic framework and action plan on the prevention of illicit financial flows in Africa (2017–2021). Governance, Economic and Financial Management Department, 2016).

Suggested Citation

  • Augustus Muluvi & Martin Nandelenga, 2025. "Curbing Illicit Financial Flows," Springer Books, in: George Kararach & Emmanuel Pinto Moreira & Victor Murinde (ed.), The Palgrave Handbook of Development Finance, chapter 0, pages 253-262, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-77422-5_13
    DOI: 10.1007/978-3-031-77422-5_13
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