Campaigners say most of the siphoned money ends up in tax havens and can be traced to mining multinationals
More than £5bn has been illegally siphoned out of Zambia over 10 years, with most of it ending it up in offshore banks and tax havens, according to a report by financial transparency campaigners.
Washington-based group Global Financial Integrity blamed "crime, corruption and tax evasion" for the loss of $8.8bn (£5.4bn) from the resource-rich country.
The lost money, most of which can be traced to multinational copper mining operations, is equivalent to half of Zambia's GDP.[view whole blog post ]