U.N.: Global money-laundering may be $1.6T

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MARRAKECH, Morocco, Oct. 25 (UPI) — Criminals may have laundered about $1.6 trillion in 2009, a report released Tuesday in Morocco by the U.N. Office on Drugs and Crime indicated.

The total represents 2.7 percent of global gross domestic product in 2009 and aligns with the 2 percent-to-5 percent range of global GNP established by the International Monetary Fund to estimate the scale of money-laundering, the U.N. agency said in a release.

“Tracking the flows of illicit funds generated by drug trafficking and organized crime and analyzing how they are laundered through the world’s financial systems remain daunting tasks,” UNODC Executive Director Yury Fedotov, who released the report in Marrakech during the Conference of the Parties to the UN Convention on Corruption meeting.
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