Organised crime worth $870bn worldwide

2012-10-16 14:05

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Vienna - International organised crime is worth $870bn, the head of the UN's office on drugs and crime (UNODC) said on Monday, urging greater co-ordination in fighting it.

"We are able to quantify the cost of transnational organised crime, it is $870bn," UNODC executive director Yury Fedotov told a crime conference in Vienna.

"But we cannot calculate the misery and suffering caused to millions of people by these illicit activities," he added.

The perpetrators are "smart, sophisticated and largely opportunistic", he said, calling for better international co-operation to tackle highly mobile organised crime groups.

About 800 ministers and civil society representatives are attending the week-long conference on transnational crime in the Austrian capital.

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