US$285bn in illicit financial outflows in 2001-2010


Malaysia is in third place for cumulative illicit financial outflows between 2001 and 2010. What a colossal shame.

Source: Global Financial Integrity report December 2012
Source: Global Financial Integrity report December 2012

According to a Global Financial Inegrity report in December 2012, the top 10 countries with the highest measured cumulative illicit financial outflows between 2001 and 2010 were:

China: US$2.74 trillion
Mexico: US$476 billion
Malaysia: US$285 billon
Saudi Arabia: US$210 billion
Russia: US$152 billion
Philippines: US$138 billion
Nigeria: US$129 billion
India: US$123 billion
Indonesia: US$109 billion
United Arab Emirates: US$107 billion

From the report:

Asia still remains the primary driver of illicit flows from developing countries led by China. In fact, five of the ten countries with the highest illicit outflows are in Asia (China, Malaysia, the Philippines, India, and Indonesia). The Western Hemisphere follows at 15.6 percent of total outflows while the MENA region contributed 9.9 percent of total outflows. In inflation-adjusted terms, outflows from MENA grew the fastest at 26.3 percent followed by Africa (23.8 percent), Asia (7.8 percent), developing Europe (3.6 percent), and Western Hemisphere (2.7 percent). The rapid growth in illicit outflows from the MENA region can be traced to the increase in crude oil prices.

According to our estimates, trade misinvoicing is the preferred method of transferring illicit capital from all regions except the MENA region, where it accounted for just 37 percent of total outflows over the decade ending 2010. Large current account surpluses are the main drivers of illicit outflows from the balance of payments of countries in that region.

Will the Prime Minister/Minister of Finance and Bank Negara shed some light on these outflows?

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Phua Kai Lit

Some of it is hot money:

Used by our kleptocrats to buy property in Australia and UK?

Gerakan K

Anil, please declare openly that you are pakatan apologist and A.B.U. guy. You have few hours to do so before the end of the world. I’m also willing to accept any apology from anil, yang and co. for numerous personal attacks to Gerakan K. Andrew I, you too, after trolling and thumbs manipulation for very long time. It is time to say goodbye. Before that I will welcome your ‘sorry statement’. Finally, I want to say, I love 1Malaysia PM Najib very much !!! He is the best Malaysian PM to date. If there is 2013, I will urge everyone… Read more »


Just received a ‘Notis Pemotongan Bekalan Elektrik’. Better pay up at TNB before the predicted 3 days of darkness without electricity hits home 2morrow! Btw, Gerakan K. Shouldn’t you be betting all your money at Genting Highlands before the end of the world? You may not have another chance after 21-12-2012! And Anil, Yang, Andrew I can practice lip-sync this song dedicated to Gerakan K: Elton John – Sorry seems to be the hardest word (lyrics) (you can hide your tears of absurdities with “Good Morning” mini china towel!!!) And to all Tham Chiak Kuis (locals & tourists), better eat… Read more »

Andrew I

It takes one to know one, Gherks. Troll v. Troll. Some people might wish for the end of the world prophecy to be true for reasons only known to them. Saves them all the anguish that’s coming later most likely. I am sorry…that your trolling has never been that good. You know, skipping Penang cultural and historical entries, liking Genting and bakut teh, driving a BMW with a wife who earns at least 15k a month. Tall tales for tall people. :-p


hello Gherkin, when the people vote UMNO out in the next general election, it is end of the world for u


Sorry no apology. We are telling the truth not lies and deceit. It is the liar, deceit and corrupt that should apologize not to me or anyone else but to the people. What so afraid of the end of the world. Some day you will still have to go anyway. Only the liar, corrupted and those who do so many evil things are afraid to go cos they know where they will go to. The 1Malaysia PM must not be dumb otherwise how can he be considered as the best.. You cannot just keep quiet of all allegation such as… Read more »

Aidil Yunus

How can we expect explanations and actions when it is the ruling elites together with all their cronies who are doing the pilferage, the siphoning and the illegal shifting? At one time the biggest export out of Argentina was the US dollars. We can say whatever we like how much we love this country and proud of our king, religion, tradition and custom, but at the end of the day we are just a transient country where the ruling elites and their cronies would just plunder and then put their ill-gotten gains elsewhere. Someone has said if there is a… Read more »


How can we don’t make it to the top? It is illicit for GFI, but it is not illicit to our standard, our leaders do not see any wrong with these. Anyone can argue that data, but It is an yard-stick on how massive that business has grow!. Do you know any filthy rich from any industry than political industry, nowadays? We have moved away from ordinary business capital into this detrimental political capital, it could not generate next level of business capital turn and it could not sustain. It is a new form of business – political business, an… Read more »


After more than 50 years of independence, who is suffering in Malaysia? Who has become wealthy? Who has evolved into robber barons? What has become of our judiciary system, our universities, our city streets, our sense of public safety and security, our schools, our youth, and our entire socio-economic arrangements at the eve of the 12th general election. How has the idea of ketuanan Melayu contributed to this state of affairs?


Malaysians have been SLAP-ed (Satu Lagi ApaNama Projek) countless times since the early 80s which have rendered the slappers numb & indifferent to our pains & loss of national coffers like nobody’s business. The slapping has increased in intensity & at heavier prices never before 308.
We can see whoever takes over Putrajaya from the BeeEnd to run a beggar nation with nothing left!
Wikipedia is no even spared the slapping on the right hand, we wonder how a ‘finding’ can be ‘erased’ from its website so soon. Just like the immigration records of Mongolian girls with ‘sensitive’ evidences.

Stephen Ng

Clearly a failure of Najib’s Tranformation Program!


Come on be a man. This report is by the Global Financial Integrity (GFI) and please don’t blame it on Anil. Even Gerakan vice-president Mah Siew Keong has deemed Malaysia’s recent second place world ranking in terms of global capital flight as downright embarrassing. Mah, who is also Gerakan central economic bureau chief, added that the government also owes the rakyat an explanation over this state of affairs, as it must “serve and protect the interests of the people”. And this Gerakan in Anil is still in a denial mode or just plain ignorant or just a trouble maker like… Read more »

Andrew I

Haha. Good one, Yang. Gherkin doesn’t even know his own party’s stance. He, like his pseudonym, GRK, show their dentures when threatened.

Gerakan K

SHAME ON YOU, anil !!! I can’t imagine you will believe such GARBAGE. Ok, let’s turn ON our brain and think LOGICALLY for a while. Throw away your sticky A.B.U. lens for a while. Illicit = illegal = dirty Do you report to any one that you have move any Illicit / illegal / dirty money abroad ??? Then, how DID you know the US$285bn figure ??? I also can say any figure, for example US$999 999 999bn illicit outflow !!! What is your explanation, anil ??? I expect anil will say, “so what, I’m A.B.U. guy. I will badmouth… Read more »

Andrew I

Hey, hello Gherkin, you spending too much time in Genting. Anil now held in high esteem by the Star. Try to keep up before commenting.


GK, right!, I think the figure included the 40M cash carried for Musa Sabah, should deduct that out.

This definitely can not be illicit, is for Umno political donation, MACC see no problem, Najib don’t see any wrong!

Musa, Umno is such an honounrable guy!, you trust him with 40M cash, why can’t you trust GFI?


Points to ponder. (What percentage) of it is corruptions & kickbacks money..


Yes what a shame not only in illicit outflow. In education, quality of science and mathematics have gone down compared to the world. In sports we cannot even be compared within SEA let alone the world. Now everything seem to go down with the exception of Barang Naik. Oop sorry not everything going down beside Barang Naik. We had corruption, cheating, crimes, immorality, scandals and also the pockets of the UMMO BN and their cronies going up with the latest revelation by Wikipedia of the 2nd richest PM in the world with 44 billions. And going up with more revelation… Read more »


Yes, we know who is the 2nd richest Pee-M in the world history. We feel disgusting at the same time want to vomit out the filth from our nation’s legacy of infamy. We also want instant accountability for such wanton ‘act’ of ‘leeching’ the nation dry to the bones’ marrow. But now is not a feasible time (if possible) for inquiry & legal judgement knowing the way of the world to shield the (suspected) corrupts. BUT I can tell you one SURE thing to happen in the righteous future but you must persevere with a right sense of justice, not… Read more »