The Economic Times, May 18, 2012
By Binoy Prabhakar
NEW DELHI: Global Financial Integrity (GFI) on Friday called on leaders of the G8 bloc of nations to concretely tackle the issue of illicit financial flows and end tax haven secrecy when they meet this weekend at Camp David. Illegal capital flight costs the developing world roughly $1 trillion per year, according to GFI research.
“A major focus of this weekend’s summit is the issue of food security in the developing world,” said GFI Director Raymond W. Baker. “What better way to ensure food security than to guarantee that developing countries have the finances necessary to invest in agriculture and nutrition programs? We cannot reach a post-aid-dependent world without curtailing illicit financial flows.”
[youtube]http://www.youtube.com/watch?v=iNf2tv_aXNQ[/youtube]
Explaining the 2012 Corruption Perceptions Index from Transparency International
In this video, the United Nations Office on Drugs and Crime follows individual Euro bills as they are used illicitly, ultimately showing the annual $870 billion proceeds from criminal networks. The filmed transactions highlight profits by counterfeiting, illicit drug trafficking, human trafficking, and trading illegal arms. The UNODC also captures the impact of this underground economy on human peace and security.
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