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Corruption, tax evasion has cost developing world $6 trillion - report

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Headlined to H3 12/18/12
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Top 10 countries with the highest measured cumulative illicit financial outflows between 2001 and 2010 were: China: US$2.74 trillion Mexico: US$476 billion Malaysia: US$285 billon Saudi Arabia: US$210 billion Russia: US$152 billion Philippines: US$138 b
(image by Global Financial integrity)

The developing world lost US$859 billion in illicit outflows in 2010, an increase of 11% over 2009. The capital outflows stem from crime, corruption, tax evasion, and other illicit activity. The report finds that illicit financial flows. From 2001 to 2010, developing countries lost US$5.86 trillion to illicit outflows. Conservatively estimated, illicit financial flows have increased in every region of developing countries. In the third update of its original report, Global Financial Integrity introduces a new, more accurate, methodolgy to estimate illicit financial flows from the developing world. The report for the first time includes a special analysis of sovereign wealth funds and their relationship to illicit financial flows.

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How does this compare to the recent Tax Justice Ne... by Scott Baker on Wednesday, Dec 19, 2012 at 4:17:58 AM