The Global Financial Integrity (GFI) has said in a new report that as much as US $ 104 billion flew out of the country illegitimately as of December of 2011.

The figure was disclosed by the White Paper on black money that was tabled in Parliament today. The report is quite about the amount of black money in India or the amount hidden in bank accounts in foreign locations. It does not include any estimate of the government on the black money.

The international agency is aimed promoting agreements and initiatives against cross-border flow of illegal money and enforcing national and multi-lateral financial policies. The report said that an estimate by Swiss banks shows that Indian deposits in Swiss banks amounted to Rs 9,295 crore by the end of 2010.

The Swiss Ministry of External Affairs had confirmed the amount during an exchange with the Indian Ministry of External Affairs. The deposits from the country have decreased from Rs 23,373 crore in 2006 to Rs 9,295 crore in 2010, according to a table from the on the website of Swiss national banks, cited by the report.