THE GLOBAL RESPONSE TO MONEY LAUNDERING

Model results compared to Press reports

"Illegal grey economy in Czech Republic about 10% of GDP” (Hospodárské Noviny, 2 Apr 98)

Model estimates 14.8% of GDP

"$30bill illegal drugs reach the US from Mexico each year" (Chicago Tribune, 25 Mar 98)

Model estimates $26bill laundered in Mexico each year

"More than $2bill is laundered in Poland each year" (National Bank of Poland, reported on 15 Apr 98)

Model estimates $3bill laundered in Poland each year

"Share of shadow business in Russia's economy may range between 25% -50%" (TASS 17 Mar 98)

Model estimates money laundering 15% of Russian GDP

"Switzerland is implicated in $500bill of money laundering each year" (Swiss Finance Ministry, reported on 26 Mar 98)

Model estimates $59bill - including only "first-stage" laundering.

"UK black economy between 7-13% of GDP" (Sunday Telegraph, 29 Mar 98)

Model estimates total money laundering 7.4% of UK GDP

"$50-250bn illegally moved from Russia to Western banks in 5 years" (Russian Interior & Economics Ministries, April 99)

Model estimates $28bn per year from Russia to western banks

"Money Laundering in Belarus about 30% of GDP" (European Humanities University, 20 Nov 98)

Model estimates 22.2% of Belarus GDP is laundered money

"Illicit funds generated and laundered in Canada per year $5-17 bn" (Canadian Solicitor General, Sep 1998)

Model estimates $22bill generated and laundered in Canada each year,

but also that $63bn of US crime funds laundered in Canada.

"Approximately $2.7bn are laundered in Colombia each year" (BBC Monitoring Service, Nov 98)

Model estimates $2.1bn laundered in Colombia every year

"Illicit drug sales (in the USA) generated up to 48bn a year in profits for laundering" (Congressional hearing, April 99)

Model estimates $34.6bn generated and laundered by illicit drug trade in USA

"Illegal profits total 2-5% of world GDP or $1-3trillion" (Dow Jones News, 12 Mar 98)

Model estimates total global money laundering $2.85 trillion

After late 1999, it became apparent that most published estimates were based on my model