The Criminogenic Network and Role of Legitimate Financial Institutions
Organized crime is transnational in many material respects. The complexity and accessibility of the international financial system, including the deposit, transfer, and exchange of currencies for or with U.S. dollars, lends itself to concealment of the sources and uses of financial funds (Central Intelligence Agency 2008). Based on the estimates developed in 2009, at least 2.7 percent of global gross domestic product (GDP), equivalent to $1.6 trillion, of available criminal proceeds are laundered, with only an estimated 0.2 percent of such laundered proceeds seized and frozen by law enforcement (i.e., the interception rate) (United Nations Office on Drugs and Crime ...
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