Illicit financial flows of developing countries: insights from Pandora Papers

Odongo Kodongo ()
Additional contact information
Odongo Kodongo: University of the Witwatersrand

Development Finance Agenda, 2023, vol. 8, issue 3, 10-11

Abstract: There are many situations that describe illicit financial flows. For example, economic agents may establish anonymous, usually offshore, shell companies to transfer illegally acquired money. The transfer is often disguised as a foreign direct investment (FDI). In this sense, the recent information and data leakages by the International Consortium of Investigative Journalists (ICIJ), labeled “Pandora Papers”, raises important questions. Pandora Papers is an attempt to, among others, expose firms and individuals allegedly involved in the establishment of secretive companies in external jurisdictions possibly motivated by the need to “shelter” their wealth from regulatory authorities or to launder it. The ICIJ emphasizes that there are legitimate uses of offshore companies and trusts, implying that the naming of firms and individuals involved does not necessarily imply wrongdoing on their part.

Date: 2023
References: Add references at CitEc
Citations:

Downloads: (external link)
https://journals.co.za/doi/abs/10.10520/ejc-defa_v8_n3_n2_a3 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:afj:journ4:v:8:y:2023:i:3:p:10-11

Access Statistics for this article

More articles in Development Finance Agenda from Chartered Institute of Development Finance Contact information at EDIRC.
Bibliographic data for series maintained by Kirk De Doncker ().