Italian Mafia turnover ‘$120 bln’
Italy’s retailers have denounced the growth of Mafia extortion rackets which they say now affect big companies as well as smaller ones.
The Mafia has turned into one of Italy’s biggest business enterprises with a turnover of more than $120 billion (£60 billion) a year, a new report says. The report, prepared by Italy’s leading retailer’s association, warns of growing Mafia influence in the south. It estimates that 7% of Italy’s output is filtered off by organized crime.
The retailer’s association says it is seriously concerned by the spread of Mafia extortion rackets from small to big businesses. Some of Italy’s best known and largest construction companies are denounced by name in the report for allegedly turning a blind eye to organized crime. Organized crime is present in all areas of the economy, from food manufacture to tourism, from real estate to finance and in the service industries, the report says. Big business also finds it easier to negotiate agreements with the Mafia rather than to denounce extortion rackets to the police, it adds.
The study alleges that 20% of Italian shops pay regular hush money to criminals to carry on business undisturbed. The proportion is much higher in southern Italy. In Sicily, eight out of 10 shops pay a regular monthly sum to the Mafia, the report says. Deputy Minister of the Interior Marco Minniti said the growth of Mafia business crime was alarming. (BBC))
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.