India lost USD 123 billion in black money in a decade
December 18, 2012  16:32
India lost a whopping USD 123 billion in black money during 2001-2010, making it the eight largest victim of illicit financial outflow, a US-based research and advocacy organisation said in a report.

However, India's black money loss of USD 123 billion in 10 years is far less than that of China, which according to the report suffered a loss of USD 2.74 trillion during the same period (2001 to 2010), followed by Mexico (USD 476 billion), Malaysia (USD 285 billion), Saudi Arabia (USD 201 billion), Russia (USD 152 billion), the Philippines (USD 138 billion) and Nigeria (USD 129 billion).

India is the eight largest victim of black money loses, said the report 'Illicit Financial Flows from Developing Countries: 2001-2010,' released by Global Financial Integrity. India is the only South Asian country to figure in the top 20 list of such nations.
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