Illicit financial flows generally involve the transfer of money earned through illegal activities such as corruption, transactions involving contraband goods, criminal activities, and efforts to shelter wealth from a country's tax authorities.
...according to a US-based think tank Global Financial Integrity (GFI)
http://www.rediff.com/business/slide-sh ... 110120.htm
Relevance to dubai ? --->
The United Arab Emirates saw a huge loss of $276 billion.
The ratio of illicit financial flows coming out of developing countries compared to ODA is 10-1, meaning that for every $1 in economic development assistance which goes into a developing country, $10 is lost via these illicit outflows.
From Page number 6
http://www.rediff.com/business/slide-sh ... 110120.htm
What I fail to understand, is how come the oil rich nations made it on this list ?
