Leopards Blog

Economic crisis means the Mafia is now ‘Italy’s number one bank’: report Organized crime has tightened its grip on the Italian economy during the economic crisis, making the Mafia the country’s biggest “bank” and squeezing the life out of thousands of small firms, according to a report on Tuesday.Extortionate lending by criminal groups had become a “national emergency,” said the report by anti-crime group SOS Impresa. Organized crime now generated annual turnover of about €140-billion ($178.89 billion) and profits of more than €100-billion, it added.“With 65-billion euros in liquidity, the Mafia is Italy’s number one bank,” said a statement from the group, which was set up in Palermo a decade ago to oppose extortion rackets against small business.Extortionate lending had become an increasingly sophisticated and lucrative source of income, alongside drug trafficking, arms smuggling, prostitution, gambling and racketeering, the report said. (Photo: AFP/Getty Images/Files)

Economic crisis means the Mafia is now ‘Italy’s number one bank’: report

Organized crime has tightened its grip on the Italian economy during the economic crisis, making the Mafia the country’s biggest “bank” and squeezing the life out of thousands of small firms, according to a report on Tuesday.

Extortionate lending by criminal groups had become a “national emergency,” said the report by anti-crime group SOS Impresa. Organized crime now generated annual turnover of about €140-billion ($178.89 billion) and profits of more than €100-billion, it added.

“With 65-billion euros in liquidity, the Mafia is Italy’s number one bank,” said a statement from the group, which was set up in Palermo a decade ago to oppose extortion rackets against small business.

Extortionate lending had become an increasingly sophisticated and lucrative source of income, alongside drug trafficking, arms smuggling, prostitution, gambling and racketeering, the report said. (Photo: AFP/Getty Images/Files)

(Source: nationalpost)

  1. treebeardoffangorn reblogged this from every-inch-but-one
  2. every-inch-but-one reblogged this from samuschan
  3. okiedokoro reblogged this from samuschan
  4. samuschan reblogged this from criminalwisdom
  5. lewesde reblogged this from npr
  6. apartmenstories reblogged this from sum1
  7. meepitymeeps reblogged this from nationalpost
  8. australianbogan reblogged this from untitled-mag
  9. untitled-mag reblogged this from nickturse
  10. anthropomorphicreality reblogged this from criminalwisdom
  11. thecakeninja reblogged this from npr
  12. emilymlarson reblogged this from npr
  13. onepercentaboutanything reblogged this from nationalpost
  14. ensuite-les-etoiles reblogged this from npr and added:
    (Photo: AFP/Getty Images/Files)
  15. saxum-astrum reblogged this from npr
  16. kazz-1222-1991 reblogged this from npr
  17. stellarstellastars reblogged this from npr
  18. sanctuarial reblogged this from npr
  19. koac reblogged this from npr
  20. ricinbullet reblogged this from criminalwisdom
  21. andreagoldston reblogged this from npr
  22. humangalaxy reblogged this from npr
  23. diviaugusti reblogged this from npr
  24. nik-nak reblogged this from nationalpost
  25. kelvinhonour reblogged this from criminalwisdom and added:
    HOLY SHIT! LIKE.A.BOSS.
  26. audioverse reblogged this from npr
  27. ericalee5 reblogged this from npr
  28. aaramblings reblogged this from npr
  29. bizarrowriter reblogged this from criminalwisdom
  30. leopardsblog reblogged this from nationalpost
  31. lsdpfo reblogged this from ichbineinbelieber
  32. yo-jay reblogged this from itsexclusive