Financial Action Task Force (FATF)

Call for Paper - Global Anti-Money Laundering Standards: Errors in Transplantation and Unintended Consequences for Developing Countries

September 15, 2021

The Global South Dialogue on Economic Crimes (GSDEC) is pleased to announce its Call for Paper on Anti-Money Laundering and Counter-Terrorist Financing (AML/CFT) standards, transplantation errors and unintended consequences.

Beneficial Ownership: To tell or Not to Tell?

Illicit Financial Flows (IFFs) are one of several impediments to achieving sustainable development in developing countries across the world. While there is no globally accepted definition of IFFs, there is global acceptance that IFFs undermine the efforts of developing countries to generate domestic revenues to finance their national development agendas. According to the United Nations (UN), developing countries face an estimated annual funding gap of $2.5 trillion to deliver on Agenda 2030. In Africa, the continent loses approximately $100 billion annually through IFFs that are generated in and moved from the continent to tax havens.