illicit financial flows

Illegal Money Transfers From Developing Nations Nearing $1 Trillion

A nonprofit research organization based in Washington, D.C., estimates that in 2011 — the latest data available — $946.7 billion flowed out of developing countries in various illegal ways, including diversions by corrupt officials and businesses as well as through tax evasion, terrorist transfers and cash moved across borders in the suitcases of traffickers. Furthermore, …

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