Illicit Financial Flows encompass a variety of illegal activities including money laundering, tax evasion, corruption, and evasion of capital controls. These flows often cross international borders, undermining economic development and contributing to instability in nations. IFFs are detrimental not only to individual countries but also have global ramifications on trade and financial systems. They are often facilitated by complex legal frameworks, the use of tax havens, and the exploitation of financial loopholes. According to estimates from various international organizations, hundreds of billions of dollars are lost each year due to IFFs, affecting the rule of law and the ability of governments to deliver essential services.