How Africa loses over $300b annually in illicit financial flows

International organisations are paying keen attention to IFFs, striving to define and mitigate them. Shutterstock

Tax experts say a weakness in the definition of illicit financial flows is helping looters make away with money from Africa, weakening its growth.

Now, they want that definition expanded to include tax evasion and other benefits that emanate from transnational crimes, bribery, embezzlement, and other illegal activities.