Global Financial Integrity

 

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New Study: Illicit Financial Flows Hit US$1.1 Trillion in 2013

Christine Clough, PMP

US$7.8 Trillion drains from Developing World from 2004-2013

Trade Fraud Responsible for Illicit Outflows of US$6.5 Trillion

China, Russia, Mexico, India, Malaysia are Biggest Exporters of Illicit Capital over Decade

Sub-Saharan Africa Still Suffers Largest Illicit Outflows as % of GDP

WASHINGTON, DC – Illicit financial flows from developing and emerging economies surged to  US$1.1 trillion in 2013, according to a study released Wednesday by Global Financial Integrity (GFI), a Washington, DC-based research and advisory organization. Authored by GFI Chief Economist Dev Kar and GFI Junior Economist Joseph Spanjers, the report pegs cumulative illicit outflows from developing economies at US$7.8 trillion between 2004 and 2013, the last year for which data are available.

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Photographs from GFI Conference “Illicit Financial Flows: The Most Damaging Economic Problem Facing the Developing World”

Christine Clough, PMP

Photos from “Illicit Financial Flows: The Most Damaging Economic Problem Facing the Developing World,” a 2-day conference in Washington, DC that was hosted by Global Financial Integrity and held at the National Press Club.

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Credit Suisse Granted Exemption from Disqualification for Asset Management Exemption Business Despite History of Abuses

Heather Lowe, +1 202 293 0740 ext. 228

U.S. Department of Labor Puts Pension Funds at Risk WASHINGTON, DC – Global Financial Integrity (GFI) expressed disappointment today in the U.S. Department of Labor’s (DOL) decision that the Credit Suisse asset management entities can continue to enjoy...

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Sustainable Development Goals Adopted: Illicit Financial Flows Become Part of Development Equation

GFI Managing Director Tom Cardamone Available for Commentary in New York Washington, DC — Global Financial Integrity applauds the official adoption of the Sustainable Development Goals (SDGs) by the UN General Assembly today in New York. This...

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Top Ten Facts About the Sustainable Development Goals and Illicit Financial Flows

Christine Clough, PMP

GFI Managing Director Tom Cardamone Available for Commentary in New York Washington, DC — The scourge that illicit financial flows (IFFs) inflict upon poverty alleviation efforts has become well known and is addressed in the Sustainable Development...

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Illicit Financial Flows: Significant Impediment to Achieving Sustainable Development Goal #6 — Ensuring Healthy Lives

WASHINGTON, DC – Analysis of illicit financial flows (IFFs) in the poorest nations shows that from 2008 – 2012 IFFs swamped national health spending in many countries.  The IFF/Health Spending ratios provided below give an indication of the...

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Global Financial Integrity Releases Capstone Book on Illicit Financial Flows with Support from the Ford Foundation

Book to be launched at two-day conference on September 21 and 22 at the National Press Club in Washington, DC Russia’s illicit outflows were 8.3% of GDP (1994-2012); Illicit outflows from Mexico (1970-2012) and the Philippines (1960-2012)...

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Illicit Financial Flows Outpace Foreign Aid and Investment; Sustainable Development Goals Address Problem

Christine Clough, PMP

Action by United Nations “a Seismic Shift in Development Orthodoxy”   WASHINGTON, DC – Analysis of illicit financial flows (IFFs) by Global Financial Integrity (GFI) shows that in seven of the last ten years the global volume of...

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