81284362-Following money to combat illicit financial flows

The German Corporation for International Cooperation (GIZ) is a German development agency that provides service in the field of international cooperation for sustainable development and international education work. Germany"s Federal Ministry for Economic Cooperation and Development (BMZ) commissioned the GIZ to implement a global program for Combating Illicit Financial Flows (GP IFF). Since 2015, the program has continuously been prolonged and extended to strengthen the global, regional and national systems for fighting illicit financial flows with a development-oriented approach. It supports in particular the implementation of the recommendations of the Financial Action Task Force (FATF) by strengthening the partners" capacities in the area of prevention, financial investigation and asset recovery. It pilots and disseminates digital and data-based solutions and establishes and funds strategic partnerships. By doing so, the programme pursues a holistic "follow-the-money" approach focusing on the financial transactions of illicit activities. The GIZ IFF global program intervenes in Eastern Africa (Kenya), Northern and Western Africa (Tunisia, Senegal), Latin America (Peru), and Western Balkans (Albania, North Macedonia, Montenegro, Kosovo, Serbia and Bosnia and Herzegovina and collaborates with regional networks such as FATF-Style Regional Bodies (FSRBs) as well as with regional Asset Recovery Inter-Agency Networks (ARINs). The program contributed successfully to the implementation of a beneficial ownership register in Kenya and established multi-agency teams to conduct joint financial investigations. This led to an increased conviction rate by over 50 percent. In other countries, such as Ghana and Mauritius, the GP IFF increased the countries" compliance with the FATF standards.