HSBC's Money Laundering Scandal 2012, money laudering for Mexican Drug gangs

Re:HSBC's Money Laundering Scandal 2012, money laudering for... by gadders on Sunday February 05, 2023 @02:26PM (#34668100)

Global size of illicit drug economy: $360 billion

Global size of FX market: $7.5 trillion per day

It's not small money, but it's not that big compared to financial markets.

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Re:HSBC's Money Laundering Scandal 2012, money laudering for... by fogforthought93 on Sunday February 05, 2023 @03:55PM (#34669256)

Idk where you got that figure for the drug economy but $360B per year is on the low-end and likely outdated.

Going off a UN report from the 90s, the illicit drug trade is similar to international trade in oil and gas—that's the order we're talking about. Remember this is a commodity, so it's a bit misleading to compare it the flow of money in foreign exchange markets.

UNDCP Technical Series Number 6:ECONOMIC AND SOCIAL CONSEQUENCES OF DRUG ABUSE AND ILLICIT TRAFFICKING.

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