The recent surge of violence in Mozambique at the hand of extremist militants has been funded by the country’s illicit economy, according to a new report by theGlobal Initiative Against Transnational Organized Crime.
United States investigators have uncovered a money laundering operation run by the Islamic State of Iraq and the Levant (ISIS) that transferred funds to an alleged ISIS supporter in the US using fake eBay transactions, The Wall Street Journal reported.
Illicit financial flows are allowing wealthy countries to profit from Africa’s wealth to the tune of tens of billions of dollars, according to a joint report by several campaign groups released Wednesday.
The amount of black money flowing in and out of developing countries is so large and consistent that it counted for up to 24 percent of their total trade between 2005-2014, according to a study released on Monday by Global Financial Integrity (GFI).
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