Global Financial Integrity brings out Annual Reports on Illicit financial flows (IFFs).

Illicit financial flows (IFFs) are illegal movements of money or capital from one country to another. GFI classifies this movement as an illicit flow when the funds are illegally earned, transferred, and/or utilized. Some examples of illicit financial flows might include:

  • A drug cartel using trade-based money laundering techniques to mix legal money from the sale of used cars with illegal money from drug sales;
  • An importer using trade misinvoicing to evade customs duties, VAT, or income taxes;
  • A corrupt public official using an anonymous shell company to transfer dirty money to a bank account in the United States;
  • An human trafficker carrying a briefcase of cash across the border and depositing it in a foreign bank; or
  • A terrorist wiring money from the Middle East to an operative in Europe.

GFI estimates that in 2013, US$1.1 trillion left developing countries in illicit financial outflows. This estimate is regarded as highly conservative, as it does not pick up movements of bulk cash, the mispricing of services, or many types of money laundering.

What Can We Do About Illicit Financial Flows?

GFI believes that the most effective way to limit illicit financial flows is to increase financial transparency. GFI believes that we should enact policies to:

  • Detect and deter cross-border tax evasion;
  • Eliminate anonymous shell companies;
  • Strengthen anti-money laundering laws and practices;
  • Work to curtail trade misinvoicing; and
  • Improve transparency of multinational corporations.
Central Board of Excise and Customs does not appear to be bothered about these starling facts and figures.  Efforts are on to window dress with imported jargons and schemes. All the importance is given to the appearance _ a tree with shining trees.  But only those who interact with the officers find how hollow the tree is and we have probed deeper and found out the root cause. 

We have collected verifiable data to substantiate our project titled ‘Radical remedy to arrest Illegal Financial Outflows’ reforming customs clearance work. Unlike many who delve in great detail about the malady, we would be more elaborate in prescribing solutions – though not in micro level.  

Please tell your friends and colleagues to help us complete the project soon.

We help & guide government officials (administration  & law enforcement)    
to work only as per law & procedures 
And provide free consultancy to overcome hurdles
RIIF – Good Governance Initiatives  
9 Years of Absolutely Free Service among the officials and  Indian  intelligentsia

 1. Knowledge Transfer – We coach administrative / law enforcement officials, on the requirements of law & procedures and  assist  them to do right with courage and grit.

 2. We resurrect the ‘good governance practices’ of the past [in performing administrative / law enforcement work] which were in the past 3 decades gradually relegated  into oblivion.

 3. System failure, if any, noticed in administration or law enforcement  are brought  to the notice of the authorities suggesting workable remedies. 

Right Informer,
2 Jun 2015, 15:54
Right Informer,
2 Jun 2015, 15:50
Right Informer,
22 Jan 2013, 17:14
Right Informer,
22 Jan 2013, 18:45