Sentences with phrase «such illicit funding»

Not exact matches

To him, anonymity clearly means that it can be used even more conveniently for funding terror activities and other illicit trades such as drugs and weapons.

Secrecy hinders criminal investigation and fosters criminality and corruption such as insider trading, market rigging, tax evasion, fraud, embezzlement, bribery, the illicit funding of political parties — and much more.

The group in its statement made available to the Nigeria Politics Online and signed by Executive Director Adetokunbo Mumuni, Said that, «Budget padding in fact is corruption, as it is implicit in corruption offences such as abuse of office, attempt to embezzle, divert, and misappropriate public funds, conspiracy to act corruptly, and illicit enrichment, which are recognized under the UN Convention against Corruption to which Nigeria is a state party, and included in national legislation such as the Corrupt Practices and Other Related Offences Act, the Economic and Financial Crimes Commission Establishment Act and the Fiscal Responsibility Act.»

The billions of dollars generated through such trade also fund criminal groups who use this money to branch out into other illicit and unethical lines of business.

When one of the users pointed out that fiat currencies can also be used for illegal activities such as money laundering, tax evasion, terrorist funding, and drug purchases, Gates said that the necessity of a physical presence makes illicit activities and transfers more difficult: