Hornbill Unleashed

December 13, 2013

Malaysia bled RM174 billion dirty money in 2011, says global anti-graft watchdog

The amount of money illegally siphoned out of the country in 2011 made Malaysia the fourth largest exporter of illicit capital that year, said anti-graft watchdog Global Financial Integrity. – The Malaysian Insider pic, December 12, 2013.TMI

The amount of money illegally siphoned out of the country in 2011 made Malaysia the fourth largest exporter of illicit capital that year, said anti-graft watchdog Global Financial Integrity.

About RM174 billion was illegally siphoned out of Malaysia in 2011, making the country the fourth largest exporter of illicit capital that year after Russia, China and India, said anti-graft watchdog Global Financial Integrity (GFI).

The Washington-based research and advocacy organisation said crime, corruption, and tax evasion drained US$946.7 billion (RM3.05 trillion) from the developing world in 2011, up more than 13.7% from 2010 – when illicit financial outflows totalled US$832.4 billion. (more…)

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