Crime, Corruption, Tax Evasion Drained a Record US$991.2bn in Illicit Financial Flows from Developing Economies in 2012

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Global Financial Integrity's 2014 annual global update on illicit financial flows tracks the amount of illegal capital flowing out of 151 different developing and emerging countries over the 10-year period from 2003 through 2012, and it ranks the countries by the volume of illicit outflows. According to the report, the 25 biggest exporters of illicit financial flows over the decade are:

1. China……… US$125.24bn average (US$1.25tr cumulative)

2. Russia…………….. US$97.39bn avg. (US$973.86bn cum.)

3. Mexico…………….. US$51.43bn avg. (US$514.26bn cum.)

4. India……………….. US$43.96bn avg. (US$439.59bn cum.)

5. Malaysia…………. US$39.49bn avg. (US$394.87bn cum.)

6. Saudi Arabia……. US$30.86bn avg. (US$308.62bn cum.) 1

7. Brazil……………… US$21.71bn avg. (US$217.10bn cum.)

8. Indonesia……….. US$18.78bn avg. (US$187.84bn cum.)

9. Thailand…………. US$17.17bn avg. (US$171.68bn cum.)

10. Nigeria…………… US$15.75bn avg. (US$157.46bn cum.)

11. UAE………………… US$13.53bn avg. (US$135.30bn cum.)

12. South Africa……… US$12.21bn avg. (US$122.14bn cum.)

13.Iraq…………………. US$11.14bn avg. (US$89.10bn cum.)

14. Costa Rica………… US$9.40bn avg. (US$94.03bn cum.)

15. Philippines……….. US$9.35bn avg. (US$93.49bn cum.)

16. Belarus……………. US$8.45bn avg. (US$84.53bn cum.)

17. Poland……………… US$5.31bn avg. (US$53.12bn cum.)

18. Panama…………… US$4.85bn avg. (US$48.48bn cum.)

19. Serbia……………… US$4.57bn avg. (US$45.66bn cum.)

19. Chile……………….. US$4.56bn avg. (US$45.64bn cum.)

21. Brunei…………….. US$4.30bn avg. (US$34.40bn cum.) 3

22. Syria………………. US$3.77bn avg. (US$37.68bn cum.)

23. Egypt……………… US$3.77bn avg. (US$37.68bn cum.)

24. Paraguay………… US$3.70bn avg. (US$36.97bn cum.)

25. Venezuela……….. US$3.68bn avg. (US$36.77bn cum.)

Read the report by Global Financial Integrity. http://www.gfintegrity.org/press-release/new-study-crime-corruption-tax-evasion-drained-a-record-us991-2-billion-in-illicit-financial-flows-from-developing-economies-in-2012/

See also:

"US$1.25 trillion moved out of mainland China illegally in 10 years, says report." http://www.scmp.com/business/article/1663131/us125-trillion-moved-out-mainland-china-illegally-10-years-says-report

"Bled Dry By Corruption -- Malaysia lost RM171 bil in one year alone - enough to build 42 new KLIA2." http://www.malaysia-chronicle.com/index.php?option=com_k2&view=item&id=422112:bled-dry-by-corruption-msia-lost-rm171-bil-in-one-year-alone-enough-to-build-42-new-klia2&Itemid=2#axzz3M23OZBYf

"Philippines 15th largest in illicit financial flows." http://filipinotimes.ae/news/2014/12/16/philippines-15th-largest-in-illicit-financial-flows/

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