The aim of the study is to: i) explore how and to what extent corruption, illicit financial flows and mismanagement of public financial resources damage development opportunities and progress ii) briefly present existing EU and global measures to combat corruption, hinder illicit capital flows and support effective public financial management, and provide an in-depth analysis and evaluation of their implementation; iii) provide concrete recommendations to the EP that can help increase the effectiveness of the fight against corruption, illicit financial flows and mismanagement of public financial resources.