Illicit financial flows in Bosnia and Herzegovina, Montenegro and Serbia

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Illicit financial flows (IFFs) are the lifeblood of crime and corruption. Each year, millions of Euros of IFFs flow through the Western Balkans, despite significant government efforts to prevent this type of crime.

A new report by the Global Initiative against Transnational Organized Crime looks at current trends of IFFs in Bosnia and Herzegovina, Montenegro and Serbia from a civil society perspective. It looks at the underlying predicate crimes - corruption, organized crime and tax evasion – and estimates that the proceeds that are earned or transferred illegally are estimated to be equivalent to 2-5% of annual GDP which is €1.5 billion to €3.75 billion. Most of this money is thought to flow into construction, real-estate, tourism and gambling.

This webinar will stimulate a conversation around key issues of IFFs in Bosnia and Herzegovina, Montenegro and Serbia and the broader Western Balkans region. The event will feature insights from experts on the topic from the three focus countries as well as other experts on IFFs to look at the problem and effective responses to it.

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