“…Illicit financial flows from developing countries are estimated to have reached US$1.1tn annually (Hoinaru, 2017; Ortega et al , 2017; Forstater, 2018; Miyandazi and Ronceray, 2018; Guzikova and Lukevich, 2018); corruption and criminal activities only account for 35% of illicit flows, whereas commercial transactions by multinational companies make up the balance of 65% of illicit flows globally (Ortega et al , 2017; Guzikova and Lukevich, 2018; Gathii, 2019). In line with this trend, the Global Financial Integrity (GFI) reported the continuous movement of illicit flows to and from 148 developing and emerging market nations globally was because of the involvement of these nations in different trades with developed economies (GFI, 2017; Guzikova and Lukevich, 2018; GFI, 2019). So, what are these illicit flows?…”