China's Illicit Outflows Estimated at $1.4 Trillion Over Decade
- Global Financial Integrity estimate is for 10 years to 2013
- Almost $8 trillion exited developing nations in that period
This article is for subscribers only.
China’s illicit financial outflows were estimated at almost $1.4 trillion over a decade, the largest amount for any developing nation, as money exited the country through channels including fake documentation on trade deals.
The estimate for the 10 years through 2013 was published Wednesday by Global Financial Integrity, a Washington-based group researching cross-border money transfers. The study is based on data reported to the International Monetary Fund and covers money which GFI believes to be illegally earned, transferred or utilized.