Thursday, 18 December 2014

Poor nations 'lose $1 tn in dirty money' - Americas - Al Jazeera English

Poor nations 'lose $1 tn in dirty money' - Americas - Al Jazeera English

Developing countries are losing nearly a trillion dollars to crime and corruption, with the disappearance of dirty money hitting some of the world's poorest regions hardest, a new report has found.

A record $991bn in unrecorded funds left 151 developing and emerging economies in 2012, up nearly five percent from a year earlier, a US-based watchdog that exposes financial corruption said on Monday.

Global Financial Integrity (GFI) found that, between 2003 and 2012, the estimated amount of illicit funds shifted from developing countries totalled $6.6tn and rose at an inflation-adjusted 9.4 percent a year - roughly double global GDP growth...
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