Around 4.1 billion euros per year: This is what European investigators have confiscated from criminal organizations in recent years. However, the estimated revenue is many times higher.
In the fight against organized crime, European investigators have confiscated billions – but that is only a tiny part of the criminal profits. According to a report by the European police agency Europol, an estimated average of 4.1 billion euros in assets were confiscated in the EU in 2020 and 2021.
However, the amount of confiscated proceeds is still too low: less than two percent of the estimated annual proceeds from organized crime are confiscated, the authority announced on Monday in Brussels.
What happens to the 4.1 billion euros varies from country to country, Europol said in writing on Monday afternoon at the request of the German Press Agency. This depends on national laws.
Many criminal actors operate outside the EU
“Organized crime has built a parallel global criminal economy around money laundering, illicit financial transfers and corruption,” said Europol Executive Director Catherine De Bolle. One challenge is that many criminal actors are outside the EU and they are quickly developing the techniques they use.
Up to 70 percent of criminal networks use various forms of money laundering to finance their activities, it said. 80 percent abuse legal business structures for crimes.
Source: Stern
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