NEW: 'Large Sums of Money Leaving Africa Illegally, In Different Ways'

Former President Thabo Mbeki says new trade data by the International Monetary Fund (IMF) shows that the amount of money leaving the African continent illegally every year has risen from $50 billion to $80 billion.

He says the money is taken out of African countries by companies and wealthy individuals without paying tax or following proper procedure.

But the former president says the new figure is also an underestimate.

Mbeki was tasked with formulating the illicit financial outflows report for the African Union (AU) and has just returned from a world tour.



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