Friday, October 28, 2011
In many cases crime does pay
And it is a significant part of the global economy. Consider this UN report,
Criminal proceeds amounted to 3.6 percent of global gross domestic product in 2009, according to a recent UN report -- a sum totaling more than $2 trillion. More than 2.5 percent of global GDP was likely laundered through the financial system, the report finds.Still there was no indication if the Banksters ill gotten gains were a part of these numbers. To deal with this, the world's top crime fighters were meeting in Phuket, Tailand, a major center of sex tourism, including underage sex. It would be a more appropriate setting for Rush Limbaugh.
Crime proceeds are higher in developing countries as measured by a proportion of gross domestic product, the report found. And despite efforts worldwide to counter money laundering, authorities are coming up short; less than 1 percent of money laundered through the financial system is ever seized and frozen.
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