Money laundering and financial means of organised crime: some preliminary empirical findings

Friedrich Schneider ()

Global Business and Economics Review, 2008, vol. 10, issue 3, 309-330

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

Keywords: money laundering definition; money laundering stages; money laundering volume; MIMIC estimation; financial means; organised crime. (search for similar items in EconPapers)
Date: 2008
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Citations: View citations in EconPapers (11)

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Working Paper: Money Laundering and Financial Means of Organized Crime: Some Preliminary Empirical Findings (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:ids:gbusec:v:10:y:2008:i:3:p:309-330

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