the role of corruption among officials and politicians, especially in the arms deal, in generating illicit funds. Commissions and arms deals are widespread practices, especially in developing countries, that contribute to the formation of these dirty funds. One of the main sources mentioned in cases of capital flight is corrupt privatization processes. Privatization and looting of natural resources have been important sources for profits achieved through private banking activities in countries like Russia, Brazil, South Africa, and Nigeria. The elite has been able to accumulate a huge amount of wealth through the privatization of public assets such as telecommunications companies, energy, airports, mines, and public utilities.
Corruption and Illicit Funds: The Role of Arms Deals and Privatization
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