January 14, 2016
A report revealed that illicit financial practices by Lebanese firms are rife and estimated the illegal capital outflow at around $2 billion a year. According to Washington-based Global Financial Integrity, the illicit financial outflows from Lebanon are close to $2 billion a year, the 54th highest in the world.
The nonprofit research and advocacy organization estimated the cumulative illicit financial flows from Lebanon at $19.9 billion between 2004 and 2013, which is equivalent to an average of $2 billion per year during the covered period.
The report was part of a comprehensive study on illicit financial practices around the world.