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

Schneider, Friedrich

doi:10.2139/ssrn.1136149

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

Paolo Baffi Centre Research Paper No. 2008-17

30 Pages Posted: 23 May 2008

See all articles by Friedrich Schneider

Friedrich Schneider

Johannes Kepler University Linz - Department of Economics; CESifo (Center for Economic Studies and Ifo Institute for Economic Research); Institute for the Study of Labor (IZA)

Date Written: May 2008

Abstract

After giving a short literature review, the paper tries a quantification of the volume of money laundering activities, with the help of a DYMIMIC 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.

Keywords: Definition and stages of money laundering, volume of money laundering

JEL Classification: K42, H26, O17, H26

Suggested Citation: Suggested Citation

Schneider, Friedrich G., Money Laundering and Financial Means of Organized Crime: Some Preliminary Empirical Findings (May 2008). Paolo Baffi Centre Research Paper No. 2008-17, Available at SSRN: https://ssrn.com/abstract=1136149 or http://dx.doi.org/10.2139/ssrn.1136149