Illicit financial flows can be generated in a variety of ways that are not revealed in national accounts or balance of payments figures, including trade mispricing, bulk cash movements, hawala transactions, and smuggling.
Another way to estimate trade mispricing is with the IPPS-based model, which was developed by John Zdanowicz of Florida International University.
This study also found that China, Russia, and Mexico accounted for the three largest shares of worldwide illicit financial flows.
[2] The United Nations Sustainable Development Goal 16 has a target to significantly reduce illicit financial flows and strengthen recovery and return of stolen assets by 2030.
[4] Swaziland lost approximately $556 million to illicit financial flows in 2012 and a record of $1.139 billion in 2007.