Deregulation, illicit financial flows and money laundering

This report assesses how the EU-Colombia-Peru Free Trade Agreement deals with the liberalisation of financial services and capital movements, in the context of illegal financial flows between the signatory countries caused by money laundering, drug trafficking and tax avoidance or evasion. The report reveals that the FTA exposes the EU to increasing risks of money laundering and tax evasion, and undermines the EU policy to regulate the financial sector and capital flows. This report was commissioned following warnings by Global Financial Integrity. This organisation brought to light that illicit financial flows between the US and Mexico increased significantly after NAFTA (the North America Free Trade Agreement) had become operational.

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