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The Piracy Money Cycle

THE PIRACY MONEY CYCLE TRICKLE ROUND ECONOMICS ACTS OF PIRACY RANSOM About x 179 Estimated US $339-413 M ships hijacked paid in ransom (2005 - 2012) (April 2005 - December 2012) Core Business PIRATE FINANCIERS "Money Kingpins"; Investors and Beneficiaries. Collect 30-50% of total ransom. Working individually or as a group. Costs Investments Piracy Business Expenses Recycling the Ransom Money LOCAL COMMUNITY Suppliers of goods and services : "The Cooks, the Mechanics" LOW-LEVEL PIRATES LEGITIMATE AKA FOOT SOLDIERS BUSINESSES Standard fee: US $ 30 - 75 K per ship = 0.01% - 0.025% of an average ransom payment CRIMINAL Khat, Transport, Petroleum, Hotels ACTIVITIES Arms Trafficking, Human Trafficking HOW DO WE INTERRUPT THE CASH FLOWS? GLOBAL AND REGIONAL AUTHORITIES Better Monitoring of Financial Flows e.g. regional financial intelligence sharing Improving Cross-border Controls e.g enhanced control of border entry - exit points Improving Regional Cooperation and International Support BROUGHT TO YOU BY THE WORLD BANK

The Piracy Money Cycle

shared by epod on Nov 21
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This project illustrates the key players, connections between them, and the flow of cash in the modern piracy business model and is brought to you by The World Bank


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