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Uganda losing revenue in illicit flows March 3, 2021 Oil activities in Hoima Uganda is estimated to be losing Shs 2 trillion annually to illicit financial flows (IFFs) and the situation could get worse with the commencement of commercial oil production, a study has revealed. The study by the civil society coalition on oil and gas revealed that in a period spanning 2006 to 2015, the country lost in excess of $7 billion in trade mis-invoicing alone. IFFs, according to Global Financial Integrity – a Washington-based organization, refer to movement of money and value from one country to another that is illegitimately earned, transferred and or utilized.

United statesDan ngabiranoMicheal olupot tukeiCoalition for developmentSouthern african money laundering groupUganda revenue authorityHoima oilFinancial intelligence authorityEgmont group of financial intelligence unitsGlobal financial integrityAdvocates coalitionOlupot tukeiEgmont groupFinancial intelligence unitsஒன்றுபட்டது மாநிலங்களில்கூட்டணி க்கு வளர்ச்சி