Illicit flows: the biggest losers
- London Financial Times 2012
- 2p.
The article gives major highlights of the GFI report with figures based on conservative estimates as the methodology may omit some illicit flows in the form of bulk cash deals, transfers via Hawala brokers in the Islamic world, and various forms of trade mispricing – all of which are heavily used in criminal activities. Dodgy money is once again leaving emerging markets in large quantities: illicit flows out of 71 developing economies were worth $859bn in 2010, up from $776bn a year earlier. The articles tackles the major highlights of the report that sheds light on IFFs on a global level.
MONEY LAUNDERING, OFFSHORE, ILLICIT WEALTH, CAPITAL FLIGHT
