Illicit Financial Flows from Developing Countries: 2001-2010
According to a recent report from Global Financial Integrity, the developing world lost US$859bn in illicit outflows in 2010, an increase of 11% over 2009. The capital outflows stem from crime, corruption, tax evasion, and other illicit activity. From 2001 to 2010, developing countries lost US$5.86trn to illicit outflows. Conservatively estimated, illicit financial flows have increased in every region of developing countries. Real growth of illicit flows from Africa increased in the study period by 23.8%.