This is a considerable sum: according to a recent senatorial report, money laundering in France would represent between 38 and 58 billion euros per year, of which 2%would barely recover, that is, it will seize the French authorities.
Entitled “These tens of thousands of millions that affect the company”, the document highlights the lack of coordination in the fight against money laundering, either at the French or international level.
“These tens of billions that affect society”
The research report considers that money laundering enters the real economy due to a wide variety of media, from the most rudimentary (tickets, sale of falsifications) to the most sophisticated (cryptocurrencies).
The estimates shown by the Investigation Commission were not confirmed or informed by those questioned on the subject, however, the rank revealed by the Investigation Commission is based on figures from the United Nations Office on Drugs and Crime (UNUDC) and the European Court of Auditors.
According to UNUD, money laundering would represent between 2 and 5% of the world GDP, between 1,600 and 4,000 billion dollars, that is to say to the French GDP, around 58 billion euros. A 2021 special report by the European Court of Auditors estimates that money laundering would represent 1.3% of the European Union GDP, or almost 38 billion per year for France.
The emergence of Neo-Banks and cryptoactive is also subject to particular attention, the latter is subject “to the growing use of criminal organizations”, which benefit from the opaque and anonymous character of these means of money transfer.
More coordination and cooperation
The investigation report deplores the lack of consistency and coordination of the various systems to combat money laundering, which promotes the development of criminal activities. An observation already known, but presented by the senators.
According to data from the European Police Office specialized in the fight against Europol Crime, the document estimates the billing generated by organized crime at 50 billion euros per year, “of which 49 billion escape from justice and taxpayer or the state budget.”
The report also points to the “partition” of services, which hinders the proper functioning of surveys, despite “a preventive and repressive device among the most developed in the world.”
Among the recommendations of the senators, taking into account the financial dimension “as soon as surveys are opened”, strengthening the media specialized in organized crime and financial crime or even improving the exchange of databases of the various entities that investigate.
Internationally, senators recommend in particular to strengthen the role of link magistrates within embassies, a workforce of 20 positions that cover 61 countries in total, which facilitate “international mutual help.”
The creation of a new European authority to combat money laundering, decided in 2024, should also help strengthen cooperation between countries, but the effective implementation of this new entity will take some years.
Source: BFM TV
