New Study: Crime, Corruption, Tax Evasion Drained a Record US$991.2 Billion in Illicit Financial Flows from Developing Economies in 2012
- Washington D.C. Global Financial Integrity, 2014.
- 4p.
The report—GFI’s 2014 annual global update on illicit financial flows—pegs cumulative illicit outflows from developing economies at US$6.6 trillion between 2003 and 2012, the latest year for which data is available. The report finds that illicit outflows are growing at an inflation-adjusted 9.4 percent per year—roughly double global GDP growth over the same period. These findings underscore the urgency with which policymakers should address illicit financial flows.
