New ASAP Delphi Study on Illicit Financial Flows Post-2015

3 Jun

asap orangeAcademics Stand Against Poverty is conducting a Delphi study on the best way to tackle illicit financial flows through the post-2015 Sustainable Development Goals (SDG).

Illicit financial flows are international movements of funds illegally earned, transferred or utilized. Examples include the proceeds of crime and corruption and funds involved in tax avoidance and evasion schemes. Evidence suggests that developing countries are losing very large amounts of money to illicit financial flows. According to Global Financial Integrity, illicit flows from developing countries totalled $946.7 billion in 2011, and $5.9 trillion cumulatively from 2002 to 2011. This is roughly ten times the amount of money developing countries received in official development assistance. As a result of these losses, the affected countries are less able to finance infrastructure development and provide essential services such as healthcare and education.

ASAP has carried out extensive research on this topic over the last months, and are currently involved in investigating the best method to carry forward these issues into the post-2105 development landscape. Currently the UN system is focusing solely on the outcome of reducing illicit financial flows without identifying the means by which reductions should be achieved. If the new framework does not identify specific measures to be taken by specific actors, it risks losing its effectiveness. ASAP’s new Delphi study is attempting to research and advise on a solution to this issue, and to this end is consulting with a wide range of expert views from expert and stakeholder opinion. The outcomes of this project will be presented in July.

Read more about the project here.

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