Nov 19, 2020 • 12:00 AM - 11:45 PM • Online
As the world grapples with the multiple crises of global COVID-19 pandemic, the economic recession, and the climate emergency, the need to raise the alarm on and fight the tax abuses and illicit financial flows in the extractive industry is more critical and urgent than ever.
Resource-rich countries spanning Africa, Latin America and Asia share a common ground. They continue to be targeted for natural wealth extraction, offer extensive fiscal incentives for mining investors, and are markedly sites of massive illicit financial flows.
Rick Rowden, Senior Economist at the Global Financial Integrity discusses trade misinvoicing and how it facilitates illicit financial flows (IFFs) and the magnitude and scale of the phenomenon.