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Illicit capital flows in developing world as high as $3.5 tn in 2014: Study

Illicit capital is mostly channelled through mis-invoicing

Reuters  |  Johannesburg 

Illicit capital flows into and out of developing economies ranged from $2 trillion to $3.5 trillion in 2014, with Africa the region most vulnerable to the flight of capital needed for investment and other purposes, according to a new study. Released on Monday by Washington-based think-tank Global Financial Integrity (GFI), the report comes before the World Economic Forum on Africa in Durban this week, where the region's development and financial challenges will be in the spotlight. It shows that combined, illicit outflows and inflows amounted to 14.1 to 24% of total ...

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First Published: Mon, May 01 2017. 18:40 IST