Transparency International resolution on illegal financial flows from Africa

Transparency International reaffirmed its commitment to combating illicit financial flows today in a resolution passed by its International Board of Directors at their bi-annual meeting.

The resolution comes after the UN Commission for Africa established a High Level Panel on Illicit Financial Flows from Africa in March 2011. The Panel sent a letter to Transparency International’s Board of Directors earlier this month seeking its support and cooperation.

In the resolution the Board of Directors states it is “convinced that the most efficient way of combating the rising tide of Illegal Flows, which is now having a serious negative impact on the global development and governance, is through effective compliance with and enforcement of national anti-money laundering laws and regulations, their broader application throughout the global financial system, and closer collaboration by relevant international bodies”.

Read the full resolution here.