January 12, 2018

Project to combate illicite financial flows

Supporting the fight against illicit financial flows in Togo

This project has just been launched and we are looking for technical and financial partners in view of its implementation.

As a matter of fact, according to a report published in June 2015 by Global Financial Integrity, a US-based organisation, Togo has the highest level in terms of FFI (illicit Financial Flows) and in relation to its GDP throughout the 2006-2012 time period. The report has revealed that during that period, Togo’s Illicit Financial Flows have reached US$ 1,526 billion, i.e. 763 billion CFA francs.

In comparison to the tax revenues, IFF represents almost 500 percent and ranks Togo second in the world. In relation to the expenditures in the fields of education and health, the IFF are thought to stand respectively for 2,43.9 percent and 1,088 percent of the rates which place Togo first in the world.

This report indicates that these IFF come mainly from 3 sources, i.e. :

  • commercial tax evasion
  • trafficking of bills in international trade and abusive transfer prices
  • criminal activities such as the drug dealing, illegal transactions on weapons, smugglings, active corruption and the conclusion of corrupt civil servants.

This IFF situation risks crippling the sustainable development and notably the achievement of the sustainable development objectives (SDO).

objectives

The overall objective of the project is to promote sustainable development through fighting against the Illicit Financial Flows.

Specific objectives

  • to educate and raise awareness of stakeholders and citizens on the impact of the Illicit Financial Flows;
  • to build the capacity of stakeholders on both the tools and the success stories of IFF monitoring ;
  • to sustain the improvement of the legal and institutional framework of IFF monitoring.

Activities already executed

Sensitization TV program

Our team has already collected a number of existing data on IFF in Togo and has made a sensitization TV programme for the benefit of the stakeholders on this phenomenon in partnership with ECO-CONSCIENCE TV. To watch the video or this programme, please click here.