WASHINGTON (Reuters) - More than $410 billion in illicit money crossed the borders of the Philippines from 1960 to 2011, with customs fraud related to imported goods surging in recent years, according to a study released on Monday by a U.S.-based anti-graft watchdog group.
Global Financial Integrity (GFI) said a record high of $25.8 billion came into the southeast Asian, archipelago nation illegally in 2011, the most recent year for which data was available. (GFI report: http://r.reuters.com/buv56v)
Already a subscriber? Log in.
Subscribe to win RM50 Touch 'n Go e-Voucher! More Info
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!