Imagine billions of dollars siphoned from public funds – money meant to build schools, hospitals and infrastructure – vanishing into a web of offshore accounts, luxury real estate and shell companies. This isn’t fiction; it’s the stark reality of how corruption drains resources from Africa and other regions, leaving people to bear the cost.
In our deep-dive analysis of 78 cases, using data available from court records, leaked information, investigative reports and other public sources, we followed the money trail to uncover not only where stolen or hidden funds from Africa end up, but also the mechanisms and tools used to hide them. Our analysis is based on cases of corruption confirmed by court decisions, as well as credible allegations of corruption and hiding of wealth offshore.
Our findings reveal the destinations, methods and assets most commonly used by corrupt actors to launder stolen money. They also highlight the urgent need for action to close these loopholes.