Russia Illicit Outflow Reached $212 Billion, Study Says
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Illicit capital outflows from Russia were as much as $211.5 billion between 1994 and 2011 as the underground economy moved funds abroad, according to Global Financial Integrity, a group that studies financial flows.
Total illicit outflows were $9.99 billion in 2011, down from a peak of $41.6 billion in 2010, Washington-based GFI said in a report released today. The study begins in 1994, the first year for which Russian balance-of-payments data are available.