December 18, 2013
Online Discussion: Kenya – A Haven for Dirty Money?
GFI President Raymond Baker to Participate in Online Discussion Regarding Illicit Flows of Money in Kenya
Thomson Reuters Discussion to Take Place Online Live on Wednesday, 18 December 2013 at 9am EST / 2pm GMT / 5pm Nairobi
WASHINGTON, DC / LONDON / NAIROBI – Global Financial Integrity (GFI) President Raymond Baker will take part in an online discussion about illicit financial flows into and out of Kenya on Wednesday, December 18, 2013 at 9am EST / 2pm GMT / 5pm Nairobi. Hosted by the Thomson Reuters Foundation, the event will feature John Githongo, the Kenyan anti-corruption expert, as well as Alex Cobham of the Center for Global Development.
Research from Global Financial Integrity, provided exclusively to the Thomson Reuters Foundation, found that more than US$16.2 billion flowed illegally into Kenya between 2002 and 2011, rising sharply from just US$490 million in 2002 to US$2.67 billion in 2011.
GFI’s latest analysis of illicit financial outflows from the developing world, “Illicit Financial Flows from Developing Countries, 2002-2011,” published last week, found that the Kenyan economy lost US$860 million to illicit outflows over this time period.
To participate in the live event, click here.
For more on Kenya’s problem with illicit money, view the following articles from the Thomson Reuters FOundation:
- Chic Nairobi throbs to the beat of dirty money: http://www.trust.org/item/20131209150854-1kirf/
- INFOGRAPHIC: Kenya illicit finance http://www.trust.org/item/20131209163122-6us9c/
- Q+A: Kenya needs strong system to stop terrorist financing, money laundering http://www.trust.org/item/20131209152720-fcx3l/
- Q+A: Girls becoming more profitable than drugs in Kenya http://www.trust.org/item/20131209151827-wp05m/
- Q+A: Kenya needs better coordination to fight illicit money flows http://www.trust.org/item/20131209151434-skn5g/
- Q+A: Kenya making progress in fighting financial crimes – govt body http://www.trust.org/item/20131209160917-l8p5o/
Kenya – A Haven for Dirty Money?
Online debate on Wednesday, December 18, 2013, 1400 GMT
Illicit finance flowing into Kenya has jumped five fold in a decade. Kenya is the easiest place in the world to open a shell company. Global financial regulators tag Kenya as a high risk place for money laundering and terrorist finance, and the World Bank is studying the problem for regional anti-corruption agencies. Yet the government is pushing ahead with plans to turn Nairobi into an international financial centre. Is it building instead a major haven for laundering dirty money?
Join an online chat to discuss the findings of the Thomson Reuters Foundation exclusive: Chic Nairobi throbs to the beat of dirty money
- Raymond Baker, President of Global Financial Integrity, Washington, DC
- John Githongo, anti-corruption expert in Kenya
- Alex Cobham, Senior Analyst on Illicit Financial Flows, Center for Global Development, London