ACE – The systematic wholesale rip-off of trade $billions

ACE – The systematic wholesale rip-off of trade $billions

TRADE fraudsters in some developing and emerging economies are systematically stealing billions of dollars by not recording the financial transactions of their exports of precious commodities, a United Nations report shockingly reveals.

The thieves routinely syphon off almost 70 per cent of the monies acquired from exports through ‘trade mis-invoicing’, one of the largest drivers of illicit financial flows (IFF), writes Thelma Etim.

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Skills

Posted on

July 21, 2016

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