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New Study: Crime, Corruption, Tax Evasion Drained a Record US$991.2bn in Illicit Financial Flows from Developing Economies in 2012
December 15th, 2014
WASHINGTON, DC – A record US$991.2 billion in illicit capital flowed out of developing and emerging economies in 2012—facilitating crime, corruption, and tax evasion—according to the latest study released Tuesday by Global Financial Integrity (GFI), a Washington, DC-based research and advisory organization. The study is the first GFI analysis to include estimates of illicit financial flows for 2012. The report—GFI’s 2014 annual global update on illicit financial flows—pegs cumulative illicit outflows from developing economies at US$6.6 trillion between 2003 and 2012, the latest year for which data is available.  Titled “Illicit Financial Flows from Developing Countries: 2003-2012,” [HTML | Continue Reading
Fourth installment of illicit finance journalism program now accepting applications
July 23rd, 2014
5937479085_9d52310535_zIllicit financial flows affect countries all over the world. Unfortunately, developing countries seem to suffer the greatest due to illicit outflows. Sub-Saharan Africa, for example, loses roughly 5.7% of its overall Gross Domestic Product every year to illicit flows, according to research from FTC member Global Financial Integrity. Along with advocating for strong policy changes, it’s important that a robust and informed press investigates cases of tax evasion, corruption, and harmful tax practices that rob governments of much needed revenue.
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📢La #pescailegal INDNR arrasa los recursos pesqueros🌍pero sus responsables no son detectados. ¿Puede la transparenc… https://t.co/Ars1ojFfV9
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