Ethiopia taking measures to curb illicit financial outflows

Addis Ababa, February 18, 2016 (FBC) – Ethiopia says it is taking new counter measures including installing advanced CCTV cameras at airports and establishing a special intelligence unit to curb the increasing illicit financial outflows.
A report released by Global Financial Intelligence last January revealed that $26 billion left the country unlawfully in many forms over between 2004 and 2013 with Ethiopia continuing to bleed an average of $2 billion every year.

However, according to the report, a staggering $19.7 billion of the total money loss left through misinvoicing, mainly by importers who reported undervalued sums while exporters overvalue their transactions.
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