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to RM200 billion of dirty money was siphoned out of Malaysia in 2010,
putting the country second only to Asian economic powerhouse China in
global capital flight.
Washington-based financial watchdog Global Financial Integrity (GFI), in its latest report which tracks capital flight, says the level of illicit flows from Malaysia in 2010 was the highest in 10 years.
GFI has introduced a new and more conservative methodology in its estimates of illicit financial outflows, which help to zero in exclusively on dirty money. As such, estimates from its previous reports have been revised.
Last year, GFI put the figure of illicit outflows for Malaysia in 2009 at US$46.86 billion(RM143.3). This has been altered to US$30.41 billion (RM93 billion).
Washington-based financial watchdog Global Financial Integrity (GFI), in its latest report which tracks capital flight, says the level of illicit flows from Malaysia in 2010 was the highest in 10 years.
GFI has introduced a new and more conservative methodology in its estimates of illicit financial outflows, which help to zero in exclusively on dirty money. As such, estimates from its previous reports have been revised.
Last year, GFI put the figure of illicit outflows for Malaysia in 2009 at US$46.86 billion(RM143.3). This has been altered to US$30.41 billion (RM93 billion).