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Offshore finance: more than $12tn siphoned out of emerging countries
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Offshore finance: more than $12tn siphoned out of emerging countries

by firstsource newsMay 8, 2016

Analysis shows $1.3tn of assets from sitting offshore, as prepares to host anti-corruption summit

More than $12tn (£8tn) has been siphoned out of Russia, and other emerging economies into the secretive world of offshore finance, new research has revealed, as David Cameron prepares to host world leaders for an anti-corruption summit.

A detailed 18-month research project has uncovered a sharp increase in the capital flowing offshore from developing countries, in particular Russia and China.

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firstsource news
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