Nov 14 2023 41 mins 22
“If you can do it without consequences, then you should do it”.
What are illicit Financial Flows, or IFFs? And why do they matter?
Every illicit market, from drug trafficking, people smuggling, the illegal wildlife trade, arms trafficking etc. all are connected to IFFs. IFFs are about the movement of money across borders that is illegal in some way.
The money could be from a criminal act, like corruption or its money associated with the illicit markets above. Perhaps, it could be legitimately earned money that is transferred in a way that evades taxation, like being paid in cash and not declaring it or money is funnelled into complex corporate schemes and secrecy jurisdictions. Or perhaps its ultimate use is something like terrorist financing or funding organised criminal activity.
Dirty money is a global problem, according to the IMF, it makes up between 2-5% (up to $5.25 trillion dollars) of global GDP.
Given the scale of the problem, in this episode we will focus in on the Western Balkans in South-Eastern Europe through three IFFs - money laundering investigations in Kosovo, corruption and the role of the private sector in Albania, and tax evasion in Bosnia & Herzegovina.
Speaker(s):
Dardan Kocani, Field Coordinator for Kosovo for the South Eastern Europe Observatory at the Global Initiative against Transnational Organized Crime
Sokol Toska, Legal Auditor in Albania and expert in money laundering and illicit financial flows.
Anesa Agovich, Field Coordinator for Bosnia and Herzegovina at the Global Initiative Against Transnational Organized Crime
Links:
Illicit Financial Flows in Albania, Kosovo and North Macedonia: Key drivers and current trends
Global Initiative Against Transnational Organized Crime
Research Links:
https://www.europol.europa.eu/cms/sites/default/files/documents/europol-review-2016.pdf
https://www.visualcapitalist.com/visualizing-the-105-trillion-world-economy-in-one-chart/
https://www.ibe.org.uk/resource/tax-avoidance-as-an-ethical-issue-for-business.html
https://www.transparency.org/en/corruptionary/tax-evasion
https://albaniandailynews.com/news/wanted-for-incinerators-affair-stela-gugallja-detained-in-austria
https://top-channel.tv/english/former-minister-is-sentenced-to-5-8-years-in-prison-for-corruption-with-the-incinerators-his-second-is-found-innocent/
https://telegraf.al/i-pakategorizuar/boset-e-inceneratoreve-denohen-per-here-te-dyte-ne-arrati-policia-dhe-spak-nuk-arrijne-dot-te-zoto-mertiri-e-gugallja/
https://www.eu-ocs.com/albania-seizes-waste-disposal-facility-amid-fraud-allegations/
https://balkaninsight.com/2022/01/06/short-circuit-the-stunning-simplicity-of-top-level-corruption-in-albania/
https://balkaninsight.com/2023/07/10/albania-prosecutors-seek-former-deputy-pm-arben-ahmetajs-arrest/
https://balkaninsight.com/2020/09/28/the-incinerator-how-a-politically-connected-albanian-built-an-empire-on-waste/
https://balkaninsight.com/2023/09/25/albania-former-minister-sentenced-for-corruption/
https://balkaninsight.com/2023/08/01/albania-seizes-tirana-waste-disposal-company-over-alleged-fraud/
https://www.cna.al/english/aktualitet/mirel-mertiri-bosi-real-i-inceneratorit-elbasan-mesazhet-e-plota-qe-b-i362014
https://albaniandailynews.com/news/spak-asks-meta-to-find-out-location-of-former-minister-ahmetaj
https://www.voxnews.al/english/investigim/dosja-buka-arben-ahmetaj-doli-mbi-vendimin-e-formes-se-prere-te-gjyka-i50069
http://www.panorama.com.al/privatizimi-i-fabrikes-spak-kemi-prova-demi-1-5-milione-euro-ahmetaj-nxjerr-dokumentet-e-bejne-per-presion-duan-te-me-mbyllin-gojen/
https://www.euractiv.com/section/politics/short_news/albanian-government-to-continue-concession-with-companies-implicated-in-financial-crime/
https://www.transparency.org/en/projects/cases-project/data/public-private-partnership-for-waste-incinerators
https://assets.publishing.service.gov.uk/media/5a7f6aa0ed915d74e33f64bf/20160607_Handbook_for_the_Concession_Contracts_Regulations_2016_final.pdf
https://www.transparency.org/en/projects/cases-project/data/public-private-partnership-for-waste-incinerators
https://single-market-economy.ec.europa.eu/single-market/public-procurement/legal-rules-and-implementation/concession-contracts_en
https://egmontgroup.org/wp-content/uploads/2022/01/2021-Financial.Analysis.Cases_.2014-2020-3.pdf
https://egmontgroup.org/
https://www.coe.int/en/web/corruption/-/financial-intelligence-unit-of-kosovo-attends-the-24th-egmont-group-plenary-meeting
https://egmontgroup.org/wp-content/uploads/2022/01/2021-Financial.Analysis.Cases_.2014-2020-3.pdf
https://www.bbc.co.uk/programmes/p07nkd84/episodes/downloads
https://www.fbi.gov/wanted/topten/ruja-ignatova/@@download.pdf
https://www.bbc.co.uk/news/stories-50435014
https://www.transparency.org/en/cpi/2022
https://www.businessinsider.com/fbi-russian-oligarch-roman-abramovich-shell-companies-luxury-jets-2022-6?r=US&IR=T
https://www.icij.org/investigations/pandora-papers/oligarchs-jets-yachts-luxury/
https://www.theartnewspaper.com/2022/02/02/pandora-papers-reveal-1600-works-of-art-in-tax-havens
https://www.bbc.com/news/world-africa-51299018
https://www.redflagalert.com/articles/risk/a-guide-to-shell-companies
https://www.icij.org/investigations/fincen-files/
https://www.icij.org/investigations/paradise-papers/
https://www.icij.org/investigations/panama-papers/
https://complyadvantage.com/insights/structuring-vs-smurfing/
https://www.acamstoday.org/from-smurfs-to-mules-21st-century-money-laundering/
https://www.investopedia.com/terms/s/smurf.asp
https://www.nationalcrimeagency.gov.uk/news/money-laundering-cash-couriers-smuggled-100-million-in-suitcases
https://books.google.co.uk/books/about/Money_Laundering_and_Illicit_Financial_F.html?id=gkiCzQEACAAJ&redir_esc=y
https://oxfordre.com/criminology/display/10.1093/acrefore/9780190264079.001.0001/acrefore-9780190264079-e-708;jsessionid=ADF024BF24F76DA5720F4017B035E029
https://financialcrimeacademy.org/the-history-of-money-laundering-2/
