Does blacklisting cause a boomerang effect in combating illicit financial flows? Evidence from developing countries
Nibontenin Yeo,
Dorcas Amon Ahizi,
Salifou Kigbajah Coulibaly
Abstract:Purpose
Tax evasion and money laundering have become important sources of illicit financial flows in developing countries. Foreign capital flows used by shell corporates are generally with no real economic activities but motivated by harmful tax practices, thereby inducing loss of revenue for developing countries. Despite the coercive actions, such as backlisting of noncooperative jurisdictions to anti-money laundering and countering terrorism financing standards, illicit financial activities are still eroding… Show more
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