Illicit inflows are estimated at a mind boggling $1.4-2.5 trillion. "Due to India's large imports of gold from Switzerland, rectifying this data issue significantly closed observed bilateral trade gaps between the two countries," economist Joseph Spanjers, one of the report's authors, told TOI. This is how it works: if you want to send money out of the country, you order something from abroad and get an inflated invoice or bill made for it. After paying the inflated bill to your foreign accomplice, the extra money is put away in your name. By reversing this process - by under-invoicing or getting a less-than-actual bill made - you can illicitly allow money to flow into the country.

Source: Times of India May 02, 2017 21:45 UTC