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

  • Friedrich Schneider

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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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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  1. 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, March.
  2. Donato Masciandaro & Elöd Takáts & Brigitte Unger, 2007. "Black Finance," Books, Edward Elgar, number 12683.
  3. Brigitte Unger, 2007. "The Scale and Impacts of Money Laundering," Books, Edward Elgar, number 12690.
  4. Esther C. Suss & Oral Williams & Chandima Mendis, 2002. "Caribbean offshore Financial Centers; Past, Present, and Possibilities for the Future," IMF Working Papers 02/88, International Monetary Fund.
  5. 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.
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