A Washington-based research and advisory organisation Global Financial Integrity (GFI) released its report titled “Illicit Financial Flows from Developing Countries: 2004-2013” showing a dramatic increase of illicit financial flows from 2004 when it was USD 465.3 billion to USD 1.1 trillion in 2013.
(Illegal financial outflows includes tax evasion, crime, corruption and other illicit activity)
- Report ranked India at 4th place in black money outflows with USD 51 billiondrawn out of the country per annum between the years 2004-2013.
- China tops the list with USD 139 billion average outflow of illicit finances per annum, followed by Russia (USD 104 billion per annum) and Mexico (USD 52.8 billion per annum).
No comments:
Post a Comment