GFI's latest report, "Illicit Financial Flows from Developing Countries: 2002-2006," found total illicit financial outflows from India alone to average from a low of US$22.7 billion to a high of US$27.3 billion per year.

Illicit capital outflows has emerged as a major issue in this year's election.

►Read the full Illicit Financial Flows Report

Additional Resources

►Read Raymond Baker's Financial Times Op-Ed, "India shows us the curse of 'black money'"

►Read GFI Lead Economist Dev Kar's Indian Express Op-Ed, "What We Actually Said"

►Read GFI's Release: Illicit Financial Outflows from India $22 Billion-$27 Billion per Year

►Read GFI Lead Economist Dev Kar's Official Statement on Illicit Capital Flight from India