G20 Nations Must Find Solutions To Illicit Financial Flows: Sa Govt

Deputy Minister in the Presidency for Planning, Monitoring and Evaluation, Seiso Mohai, has called on the G20 Development Working Group nations to resolve how to come up with tangible solutions to fight against illicit financial flows.

He was speaking on the second day of the three-day G20 Development Working Group meeting in Somerset West, Western Cape.

Mohai says these also involve the illegal exchange of money across national borders, which include smuggling and tax evasion amongst others.

He says this type of financial transgression must be prioritised.

Mohai says, If it is estimated that about R88 billion of the countrys illicit flows are lost through these measures. It is a very important issue to the continent.