Global Policy Forum

Despite Global Financial Crisis, Illicit Financial Outflows from Developing World Remain High

Global Financial Integrity’s (GFI) latest study on illicit financial outflows from developing countries, reports an $8.44 trillion loss over the last decade (2000-2009). Despite efforts to contain illegal capital flows, an estimated drop from $1.55 trillion in 2008 to $903 billion in 2009 is clearly not due to improved global governance, but rather due to the global economic crisis. This is partly indicated by the significant shift from trade mispricing to other methods of concealing theft, corruption and tax evasion. At this time of crisis, outflows of capital from the developing world are particularly scandalous.

December 15, 2011

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Click here to read the executive summary.

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