After brainstorming from May 24-26, 2017 in Yaoundé, Cameroon, member states of the African Organization of Supreme Audit Institutions (AFROSAI) have come out with recommendations and commitments that if implemented, Illicit Financial Flows would be effectively tackled in Africa. The recommendations come to crown the international conference organized by the Good Financial Governance GFG Network in Africa and hosted by the Supreme State Audit Office.
The conference participants recommended that members of AFROSAI and GFG should adopt the Yaoundé declaration and implement the combat plan of action, the fight against illicit financial flows should be the centre of concerted reflections between governments, private sector, civil society and international institutions to achieve a united front, advocacy for more committed governments’ policy be carried out and information and experience sharing framework between African countries be put in place. They also recommended that an updated data of individuals and corporate bodies involved in illicit financial flows be put in place, the harmonization of judicial and legal framework be done in view of sanctioning perpetrators of the practice, that states be encouraged to carry out combat actions on the field, as well as the adoption of regional and continental combat strategy that governments have to follow.
The African Union, the participants enjoined, should continue to educate citizens of African countries on public morals, intensify the fight against money laundering, and designate a leading Head of State to chart the course on mechanisms of the fight in the continent. The African Union has also been urged to declare “An African year for the fight against illicit financial flows” or “A year of zero tolerance against illicit financial flows in Africa”. The continent also has to make use of the results of the Centre for Asset Recovery that can train States on how to prevent and detect illicit financial flows.