The ground-breaking report by Global Financial Integrity,"Illicit Financial Flows from Developing Countries: 2002-2006," shows that the developing world is losing an increasing amount of money through illicit capital flight each year.
The term, illicit financial flows, pertains to the cross-border movement of money that is illegally earned, transferred, or utilized. Illicit financial flows generally involve the transfer of money earned through illegal activities such as corruption, transactions involving contraband goods, criminal activities, and efforts to shelter wealth from a country’s tax authorities.
