Wednesday, May 27, 2009

Bloomberg: Mafia's Power Waxes in Italy

Bloomberg contributes to a growing refrain throughout this blog, that Italy's organized crime syndicates, the cash-rich Cosa Nostra, the 'Ndrangheta, and the Camorra are exploiting the economic downturn to increase their grip on Italy.

Interesting factoids:

  • Italian organized crime overall boast twice the annual profits of Exxon Mobil.
  • Italian banks, weakened by the downturn, are decreasing their vigilance against money laundering.
  • The 500 euro note ( worth about $690 ) has become the item of choice for smuggling cash. It has been used as far afield as Columbia and Mexico.

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