10 Countries With Highest Black Money Outflows

Many anticipate that $400-$500 billions of black money is held by Indians in Swiss accounts. We shall now discuss other such nations which hold highest amount of illicit money in various tax havens and local banks. The list is derived from the list compiled by Global Financial Integrity Index of 2013.

GFI says, “For each $1 developing nations receive in foreign aid, $10 in illicit money flows abroad—facilitated by secrecy in the global financial system. Beyond bleeding the world’s poorest economies, this propels crime, corruption, and tax evasion globally.”

# United Arab Emirates:

United Arab Emirates ranks number ten for its illicit financial outflows. The country’s illicit financial outflow between 2001 and 2010 is $107 billion.

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