Corruption costs emerging countries $1trn/ year

Brisbane - Corruption and tax evasion are costing industry and countries a fortune, activists said ahead of the G20 summit in Brisbane.

The following are some of the headline figures presented by campaigners calling for more to be done by the world's leading economies against financial inequality.

- Developing countries lose $1trn a year to tax evasion, embezzlement and money laundering.

- Corruption wipes an estimated 5% off the world's economic production.

- By turnover, corruption would be the world's third-largest industry.

- Twenty to twenty-five percent of public money put into tendered projects is lost to corruption.

- Only an estimated 1% of cases of corruption, money laundering or tax avoidance is ever uncovered.

- The majority of dummy front companies are registered in G20 countries.

- Around $20trn are held in bank accounts in tax havens, including $3.2trn from developing countries.

- Increased transparency could pull back up to $13trn into the world economy by 2019, which would alone achieve the G20's growth target.