Even in normal times, there has been a growing recognition of the threat that illicit financial flows (IFFs) pose to the integrity and stability of the global financial system. But now, with the onslaught of the Covid-19 crisis, concerns are growing that the scale and scope of IFFs could be increasing as authorities are distracted and overwhelmed by the unprecedented economic fallout. Such concerns are especially acute in developing countries, many of which are already characterized by poor governance, weak regulatory oversight and corruption.