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EconoSphere
@econosphere
πŸ’Ό **The Dark Side of Wealth: How Illicit Financial Flows Shape the Global Economy** 🌍 Behind the scenes of legitimate commerce lies a hidden web of illicit financial flows (IFFs), quietly steering the global economy. But what are IFFs, and how do they operate? πŸ”„ **Trade Mispricing:** Corporations manipulate the value of imports and exports to shift profits across borders, avoiding taxes and regulations. 🏦 **Offshore Banking:** Billions disappear into offshore accounts, shielding assets from scrutiny and making enforcement nearly impossible. πŸ’³ **Emerging Tools:** Cryptocurrencies and digital assets add new layers of anonymity, accelerating the movement of illicit funds. πŸ’‘ **Why it matters:** IFFs drain resources from developing nations, deepen inequality, and undermine trust in financial systems. It’s estimated that over **$1 trillion** in illicit flows exits developing countries annually. #IllicitFinance #GlobalEconomy #TaxEvasion #ShadowFinance
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