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Illicit Financial Flows

Illicit Financial Flows: The Scourge of the Developing World

Raymond Baker | Posted 03.09.2013 | World
Raymond Baker

The West should do three things right away. First, we should eliminate anonymous shell corporations, so no criminal can hide nefarious actions behind an innocent-sounding Delaware LLC or Cayman Islands trust.

China: $4 Trillion in Dirty Money Should Worry Us All

Raymond Baker | Posted 12.26.2012 | Business
Raymond Baker

The world cannot afford to let China collapse into a pit of corruption and civil unrest. The result would be a disaster.

Outflows, Not Aid, Must Be Curtailed to Fight Poverty

Raymond Baker | Posted 03.12.2012 | World
Raymond Baker

A shadow financial system consisting of tax havens, secrecy jurisdictions and anonymous corporate vehicles makes it easy for corrupt dictators, terrorists, drug traffickers and tax evaders to quietly shepherd their funds out of the developing world and around the planet without notice.

The Rut in India's Economic Highway

Raymond Baker | Posted 05.25.2011 | World
Raymond Baker

As the Indian economy has improved, the amount of illicit money shifted to offshore financial centers has increased as well.

Financial Integrity Meets Human Rights

Raymond Baker | Posted 05.25.2011 | World
Raymond Baker

It is estimated that $1 trillion in illicit money leaves developing countries every year. This outflow reduces tax collection, cripples foreign aid, undermines free trade and worsens poverty for billions of people.