The ONE Campaign recently released a report called The Trillion Dollar Scandal, which looked at how mainly African countries were losing a trillion dollars a year, especially from the mining and natural resources sector, to corruption, illicit financial flows, money laundering, tax evasion and phantom firms.
The report reveals that at least a trillion dollars is taken out of developing countries each year through corruption, illegal tax evasion, the use of shell companies and shady deals to the detriment of development programmes. This is a scandal of immense proportion.
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