Capital flight and illicit financial flows (IFFs), including those generated by terrorist organizations,
which are part of the scourge of money laundering, pose a definite risk to economies
african.
Tax evasion are all missed opportunities to generate revenues that African states have
so much needed to finance key sectors of the economy, fight poverty and invest< in > social protection.
According to some estimates, IFFs from Africa amount to tens of billions of
of dollars per year.
Other studies point out that these losses are about double the amount of public support to
development (ODA) that Africa receives and, of course, these estimates are far from reality since
accurate data do not exist for all transactions or for all African countries.
The measures taken in the fight against money laundering and the financing of terrorism are aimed at >
prevent misuse of the financial system.
Their modalities consist mainly of detecting and communicating suspicious financial flows, in
confiscate the product and punish the culprits.
International and regional cooperation has developed for several years thanks to the GAFI (Groupe
and GIABA (Intergovernmental Action Group against Money Laundering in
West Africa).
This body, which depends on ECOWAS, has been at the front for several years.
He is organizing this Wednesday in Dakar an international conference on these themes.
Money laundering and terrorist financing are transnational crimes in
devastating consequences," said Kimelabalou, director general of GIABA.