Global Financial Integrity


Financial Corruption costs developing world Trillions

Illicit Financial Flows From Developing Countries: 2001-2010 A new report by Global Financial Integrity, a Washington-based group that campaigns for financial accountability reports that crime, corruption and tax evasion have cost the developing world nearly $6 trillion over the past decade, and illicit funds keep growing, led by China which accounted for almost half of the $858.8 billion in dirty money that flowed into tax havens and Western banks in 2010, more than eight times the amounts for runners-up Malaysia and Mexico. “Astronomical sums of dirty money continue to flow out of the developing world and into offshore tax havens […]