I wonder what makes the money “illicit.” How much is from corrupt government officials siphoning off the nation’s wealth or the proceeds of drug trafficking, and how much money leaving the country for reason most of us would consider legitimate, but it against local law? An opposition leader taking money from Russia to avoid having it seized by Putin is different than a Nigerian oil minister stealing millions.
This does not seem very well defined. What exactly do they mean by illicit? There are no illicit outflows from the US or Europe? I assume this does not count black markets like drugs or human trafficking, since the numbers are too small.
It also doesn’t seem like they mean counterfeit money, since I don’t see Best Korea as a big player. The article says it means tax evasion, crime, and corruption. . .very misleading to only do the estimate for emerging markets when it’s not indicated on the map. Seems like a case of GIGO. I guess the world may have cumulatively paid $7-8T in bribes from 2003-2014, give or take a few trillion, maybe there’s some data somewhere in the noise.
I wonder how much illicit money has flowed out of the developed world…
I wonder what makes the money “illicit.” How much is from corrupt government officials siphoning off the nation’s wealth or the proceeds of drug trafficking, and how much money leaving the country for reason most of us would consider legitimate, but it against local law? An opposition leader taking money from Russia to avoid having it seized by Putin is different than a Nigerian oil minister stealing millions.
This does not seem very well defined. What exactly do they mean by illicit? There are no illicit outflows from the US or Europe? I assume this does not count black markets like drugs or human trafficking, since the numbers are too small.
It also doesn’t seem like they mean counterfeit money, since I don’t see Best Korea as a big player. The article says it means tax evasion, crime, and corruption. . .very misleading to only do the estimate for emerging markets when it’s not indicated on the map. Seems like a case of GIGO. I guess the world may have cumulatively paid $7-8T in bribes from 2003-2014, give or take a few trillion, maybe there’s some data somewhere in the noise.