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Money Laundering and Financial Means of Organized Crime: Some Preliminary Empirical Findings

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  • Friedrich Schneider

Abstract

After giving a short literature review, the paper tries a quantification of the volume of money laundering activities, with the help of a MIMIC estimation procedure for the years 1995 to 2006 for 20 highly developed OECD countries. The volume of laundered money was 273 billions USD in the year 1995 for these 20 OECD countries and increased to 603 billions USD in 2006. The overall turnover in organized crime had a value of 595 billion USD in 2001 and increased to 790 billion USD in 2006. These figures are very preliminary but give a clear indication how important money laundering and the turnover of organized crime is nowadays.

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File URL: http://www.diw.de/documents/publikationen/73/diw_01.c.354167.de/diw_econsec0026.pdf
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Bibliographic Info

Paper provided by DIW Berlin, German Institute for Economic Research in its series Economics of Security Working Paper Series with number 26.

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Length: 29 p.
Date of creation: 2010
Date of revision:
Handle: RePEc:diw:diweos:diweos26

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Keywords: Definition and stages of money laundering; volume of money laundering; MIMIC estimation; financial means of organized crime;

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References

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  1. Schneider, Friedrich, 2005. "Shadow economies around the world: what do we really know?," European Journal of Political Economy, Elsevier, vol. 21(3), pages 598-642, September.
  2. Esther C. Suss & Oral Williams & Chandima Mendis, 2002. "Caribbean offshore Financial Centers," IMF Working Papers 02/88, International Monetary Fund.
  3. Edwin M. Truman & Peter Reuter, 2004. "Chasing Dirty Money: The Fight Against Anti-Money Laundering," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 381.
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Cited by:
  1. Joras Ferwerda & Mark Kattenberg & Han-Hsin Chang & Brigitte Unger & Loek Groot & Jacob A. Bikker, 2013. "Gravity models of trade-based money laundering," Applied Economics, Taylor & Francis Journals, vol. 45(22), pages 3170-3182, August.
  2. Michael Brzoska & Raphael Bossong & Eric van Um, 2011. "Security Economics in the European Context: Implications of the EUSECON Project," Economics of Security Working Paper Series 58, DIW Berlin, German Institute for Economic Research.

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