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Illicit in sentence

219 examples of Illicit in a sentence

Dirty Development MoneyCOPENHAGEN – One of the biggest problems affecting the world’s poor is one that few have ever heard about: illicit financial flows.
But one recommendation – curbing illicit financial flows – was unexpected.
Many people do not realize that illicit flows are a problem at all.
The Global Financial Integrity Institute (GFI) reports that, in 2011, developing countries lost almost a trillion dollars through illicit transfers to the developed world.
Taken together, illicit financial flows currently amount to nearly ten times the total sum of international aid.
By making it harder for individuals to hide behind shell companies, such regulation would make illicit financial flows significantly more difficult to accomplish – and much easier to spot.
If this effort produced just a 10% reduction in the average losses from illicit financial flows, compared to 2002-2012, it would save countries $768 billion – money that could be used to finance development projects.
But global leaders have compelling reason to add the reduction of illicit financial flows to the list.
These illicit activities are not intended, but they increase the income of peasants, transporters, builders, and businessmen.
Last year, the UN passed an historic resolution to tackle illicit wildlife trafficking, recognizing the effectiveness of the CITES legal framework.
This year’s record harvest of 6,100 tons of opium will generate more than $3 billion in illicit revenue – equivalent to almost half of Afghanistan’s GDP.
This year, new investigations, including by the World Health Organization, showed that major tobacco companies like Philip Morris have continued to use covert and illicit tactics to advance their business interests, at the expense of public health.
Meanwhile, the companies that have so gleefully enriched their executives and shareholders typically face little, if any, blowback from their illicit or unethical activities.
And, in its latest report, Global Financial Integrity ranked Malaysia second in the world for illicit capital movements, reflecting years of outflows from a massive informal economy tied to corruption.
Improved security at ports in Ghana and Senegal is putting a dent in illicit trade passing through those countries.
As a result, its annual exports – which include film and television animation, reconditioned cars, and, inevitably, an illicit trade in arms – are worth less than $1 billion.
If illicit deals are what it takes to gain access to the resources and markets they needed, private firms have been more than willing to strike them, offering cash or other payments to officials who bent or broke rules on their behalf.
Over three decades of lax governance, some local authorities have formed political cliques that work together to protect their illicit gains and economic interests.
And those convicted of receiving illicit money are obligated to pay it back.
Moreover, many fragile states are rich in natural resources, and must establish transparent resource management – aimed at curbing corruption and controlling illicit flows of money and goods – in order to raise the revenues needed to deliver services.
Among non-democracies, China had the Bo Xilai scandal, which was worthy of a spy novel, with illicit affairs, rampant corruption, murder, and a senior police official’s dramatic quest for asylum in a US consulate.
This is one reason why the UN has made reducing illicit financial flows a key component of achieving the Sustainable Development Goals.
According to the African Union’s High Level Panel on Illicit Flows, chaired by former South African President Thabo Mbeki, Africa loses more than $50 billion every year from illicit financial outflows.
These efforts should be accelerated, and the international community should support African countries’ own efforts to reduce illicit financial outflows, especially through improper trade invoicing, and to strengthen tax and customs administration.
The ultimate obstacle for any cryptocurrency is that eventually there has to be a way to buy a range of goods and services beyond illicit drugs and hit men.
The Addis meeting also provides a unique opportunity for a deeper analysis of issues related to illicit financial activities – another big drain on African treasuries.
linked with the euro, which is in the throes of an existential crisis...”This has resulted in another, albeit unintended, consequence: “Unscrupulous politicians, bureaucrats and businessmen, who have stashed their illicit wealth abroad, are bringing some of it back,” passing off the money as export earnings.
Another valuable clue about MND emerged in 1998, when a large-scale investigation into illicit drug use in Italian soccer inadvertently revealed a shockingly high incidence of ALS among professional and semi-professional players in Italy.
Finally, this time, the negotiations are more manageable in scope, focusing on five specific issues: an agrarian-development policy, the FARC’s political participation, ending the conflict (demobilization and transitional justice), reparations for the victims, and curbing the illicit drug trade.
Indeed, the FARC’s proposal – centered on protecting the rural farmers who make their living cultivating illicit crops, including by establishing a legal market for such crops – is relatively moderate.
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