February 4, 2014 Philippine Economy Loses US2.9 Billion in Illicit Financial Outflows from Crime, Corruption, Tax Evasion over 52-Year Period; US7.6 Billion Transferred Illegally into the Philippines Smuggling through Trade Misinvoicing Cost Philippine Taxpayers at Least US$23 Billion in … [Read more...]
Capital Flight
Why is Davos held in the world’s top illicit money centre?
From the Davos OpenForum 2014: "Switzerland is known for its chocolate, watches and banking sector. But today, with traditional banking secrecy gone, the country has to reinvent itself to retain its competitive advantage." Our emphasis added. That's news to us. … [Read more...]
Illicit Capital Flows and the Offshore Economy
For a general "Magnitudes" page giving estimates of the size of illicit financial flows and other measurements that are of interest to TJN, click here. < Update: March 2009. Christian Aid's False Profits: robbing the poor to keep the rich tax-free estimates that between 2005 and 2007, the … [Read more...]
