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Date: April 29, 2024 Mon
Time: 11:32 pm
Time: 11:32 pm
Results for financial crimes (brazil)
1 results foundAuthor: Kar, Dev Title: Brazil: Capital Flight, Illicit Flows, and Macroeconomic Crises, 1960-2012 Summary: This September 2014 study from Global Financial Integrity found that more than US$400 billion flowed illegally out of Brazil between 1960 and 2012-draining domestic resources, driving the underground economy, exacerbating inequality, and facilitating crime and corruption. The Brazilian economy lost at least US$401.6 billion in illicit financial outflows from 1960 to 2012. These outflows represent the proceeds of crime, corruption, and tax evasion, and have serious negative consequences for Brazil. Outflows were found to drain resources from the Brazilian economy, to drive the underground economy, and to exacerbate inequality. Furthermore, the report found that illicit outflows are growing. Annual average illicit outflows increased from US$310 million in the 1960s to US$14.7 billion in the first decade of the twenty first century before jumping to US$33.7 billion over the last three years of the study, 2010-2012. On average, Brazil's illicit outflows are equivalent to 1.5% of the country's official GDP. Details: Washington, DC: Global Financial Integrity, 2014. 44p. Source: Internet Resource: Accessed September 9, 2014 at: http://www.gfintegrity.org/report/country-case-study-brazil/ Year: 2014 Country: Brazil URL: http://www.gfintegrity.org/report/country-case-study-brazil/ Shelf Number: 133183 Keywords: CorruptionFinancial Crimes (Brazil)Socioeconomic Conditions and CrimeTax EvasionUnderground Economy |