Financial Transparency Coalition

Task Force member Global Financial Integrity released their newest report on illicit financial flows from the developing world last night. The report found that $5.86 trillion left the developing world due to crime, corruption, and tax evasion from 2001-2010, $859 billion in 2012 alone. The report uses a new, broader, methodology to estimate illicit financial flows, and the numbers should be considered very conservative. They also set up a very cool Explore page if you would like to delve deeper into the data.

Today, Global Financial Integrity launched it’s new report, Mexcio: Illicit Financial Flows, Macroeconomic Imbalances, and the Underground Economy in Washington D.C. and Mexico City. An excerpt from the press release: MEXICO CITY / WASHINGTON, DC – Crime, corruption and tax evasion cost the Mexican economy US$872 billion between 1970 and 2010 according to a new report