News24

Crime generates trillions of dollars

2012-04-23 19:51

Vienna - Criminality worldwide generates proceeds in the trillions of dollars each year, making crime one of the world's "top 20 economies", a senior UN official said on Monday

With the scope of global crime - and particularly organised crime - threatening emerging economies and fomenting international instability, Yury Fedotov called for concerted world action to combat the trend.

"We need to recognise that the problem requires a global solution," Fedotov, the head of the UN Office on Drugs and Crimes told reporters outside an international conference focused on preventing the exploitation of illegal migrants and other crimes linked to human trafficking.

"No country can handle this problem alone."

Fedotov said that "criminal business" earns those behind it $2.1 trillion - nearly €1.6 trillion - a year, which he said is equivalent to nearly 7% of the size of global economy.

In separate comments inside the meeting, he said that as many as 2.4 million people may be victims of human trafficking worldwide at any given time, calling it "a shameful crime of modern-day slavery".

Corruption is another concern of the meeting. Fedotov told the opening session that estimates put the amount of money lost through corruption in developing countries at $40bn annually.

Comments
  • Ben - 2012-04-23 20:05

    Corruption in developing countries estimated at 40 million dollars annually. Make a list and give these countries rankings. Where do we stand?

      Brett - 2012-04-23 20:21

      Top 3 I bet.

      Brett - 2012-04-23 20:21

      Top 3 I bet.

  • zaatheist - 2012-04-23 20:05

    And what about the religious fraud, the biggest and most lucrative crime of them all?

      Ben - 2012-04-23 20:34

      According to your comments, the only thing you hate in this world is religion. You feel good hating it. Now find yourself a few other things to hate and you can even feel better and thank me for enriching your life.

  • Evans - 2012-04-23 20:08

    did u no dat crime constitutes 7% of global economy. Incl corruption,drugs,human trafficking,illegal goods .fong kong

      Martin - 2012-04-24 07:36

      if there was no crime, we would need no security, no police, no government, no church, they can say what they like but crime runs this world

  • Louwhan - 2012-04-23 21:09

    It is a shame that this gangster has infiltrated almost all forms of government together with the legal gangsters/banksters. There is no way in hell any government will ever do anything to stop the war on drugs etc. Too much money to be made. Between Kabul and Bogota there is more than half the cash generated (much more than a trillion as reported) leaving 48000 Mexicans dead, thousands of afghans, US troops etc. Who can still believe that the UN, global governments and corporations, great spiritual leaders (the establishment as we know it) will ever act in OUR interest?

      allcoveredinNinjas - 2012-04-24 08:39

      Why do you think drugs are criminalised , it increases the value of the product multiple times and makes the boys at the top richer , police/politicians can claim bigger budgets for 'fighting the war' and the carousal continues to turn. If the current strategies were working , don't you think we would have seen results rather than increases in the trade ? I can't comprehend how giving criminals a product with the biggest profit margin, total control of the industry (no tax) is protecting society? Prohabition and current tactics on the war on drugs as well as the spin off crime the very wealthy industry generates needs to be re-looked.

  • Thabo - 2012-04-23 21:57

    Government benefit from crime as well. if your car get stolen, when you buy another one you pay Vat. Vat goes to the government. Eradicating crime will mean the government will also loose.

  • pages:
  • 1