News24

Organised crime worth $870bn worldwide

2012-10-16 14:05

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.

Comments
  • sisie.indola - 2012-10-16 15:01

    I bet if you gathered all the information from ALL the ministers et al you would find that in SA alone the figure would be close to that, that has been squandered, stolen, looted and just put in someones bank account. Which would make SA the CRIME capital of the whole world - ag shame!

  • fidel.mgoqi - 2012-10-17 08:08

    The biggest organised crime is Central Banking, where counterfeiting is allowed. While workers have to work for every penny they earn, crooks in banking system create money out of nothing. Their fake money trickles into economy and blends with real money, lent to us at interest. That is what having a banking license grants you - the ability to counterfeit money, legally.

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