In 2012, a Washington DC-based research organization, Global - TopicsExpress

In 2012, a Washington DC-based research organization, Global Financial Integrity (GFI), released a study that the Philippine economy was cheated of $132.9-billion (more than P6-trillion) in illicit money outflows in the past five decades (1960-2011), including proceeds from crime, corruption and tax evasion. The incurred losses amounted to over P357-billion annually on average. Researchers (Kar and LeBlanc) found that 72% of the outflows were from misinvoicing. raffyalunan.wordpress/

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