Illicit money flows grow in China, Iraq: report

Some 150 developing countries, led by China, have been the source of flows of tainted money totaling US$5.9 trillion over 10 years through 2010, Global Financial Integrity, a research and advocacy group in Washington, DC, said.

Flows of illicit money from tax evasion, crime and corruption in the developing world have roared back to pre-financial crisis levels, topping nearly US$859 billion in 2010, near the all-time high of US$871 billion in 2008, it said.

In 2009, following the global financial crisis, the figure dropped to US$776 billion.

via Business feed http://www.scmp.com/business/economy/article/1107298/illicit-money-flows-grow-china-iraq-report