By the end of 2022, 22 countries across Latin America, Africa, and Asia successfully conducted pilot testing of various methods to measure illicit financial flows from criminal activities and tax and commercial practices. Many of these countries also produced initial estimates of illicit financial flows, which can be used to compile SDG Indicator 16.4.1. At the 54th session of the UN Statistical Commission, a side event was co-organized by UNODC, UNCTAD, ESCAP, and ECA to showcase success stories and key lessons in measuring illicit financial flows from these pilot activities. Country experts from the three regions shared the feasibility and benefits of producing such estimates. This event emphasized the importance of generating reliable statistics and data on illicit financial flows, in line with the resolution of the 2nd Committee of the General Assembly (of 16 November 2022), that acknowledged the significant progress made by custodian agencies, recognized the availability of tested methods to measure illicit financial flows and encouraged further action to produce more accurate estimates.
