India fourth largest exporter of illicit money: GFI

An average annual outflow of $51.03 billion makes India the fourth biggest exporter of illicit capital over a decade, with such financial flows from developing and emerging economies surging to $1.1 trillion in 2013, latest estimates released by Global Financial Integrity show.

The report pegs cumulative illicit outflows from developing economies at $7.8 trillion between 2004 and 2013, the last year for which data are available. Illicit flows have shown a dramatic increase in a decade, rising from $465.3 billion in 2004 to $1.1 trillion in 2013.