Add this Page to Facebook!   Submit to Twitter   Submit to Reddit   Submit to Stumble Upon   Pin It!   Fark It!   Tell A Friend  
Printer Friendly Page Save As Favorite Save As Favorite View Article Stats
1 comment

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

Quicklink submitted by Amanda Lang     Permalink
Related Topic(s): ; ; , Add Tags

View Ratings | Rate It

Headlined to H3 12/18/12
Become a Fan
  (9 fans)


At iff.gfintegrity.org


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.

Read the rest of the story HERE:

At iff.gfintegrity.org


 

Comments

The time limit for entering new comments on this Quicklink has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
1 people are discussing this page, with 1 comments
To view all comments:
Expand Comments
(Or you can set your preferences to show all comments, always)

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