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…
Poor nations ‘lose $1 tn in dirty money’ – Americas – Al Jazeera English
December 18, 2014