record $991bn flowed illicitly out of developing economies in 2012—facilitating crime, corruption, and tax evasion—finds a new GFI study. As this report demonstrates, illicit financial flows are the most damaging economic problem plaguing the world's developing and emerging economies, said GFI President Raymond Baker, a longtime authority on financial crime. These outflows already greater than the combined sum of all FDI and ODA flowing into these countries are sapping roughly a trillion dollars per year from the world's poor and middle-income economies.