Bangladesh lost as much as $75.15 billion due to trade misinvoicing and other unrecorded outflows between 2005 and 2014, data shows. Bangladesh’s illicit money outflows fell more than 9 percent to $6.06 billion in 2014, if a low estimate is taken into account, according to the data. Illicit financial flows from developing and emerging economies kept pace at nearly $1 trillion in 2014. The report pegs illicit financial outflows at 4.2-6.6 percent of developing country total trade in 2014. Titled “Illicit Financial Flows to and from Developing Countries: 2005-2014,” the report is the first global study at GFI to equally emphasise illicit outflows and inflows.

Source: bd News24 May 02, 2017 19:07 UTC