Piracy Pays Off for Criminal Underworld

A joint World Bank-UN Office on Drugs and Crime-Interpol study estimates that between 2005 and 2012 acts of piracy brought in $339 million to $413 million in ransom payouts. Most of this money goes not to the pirates themselves but to the financiers behind them. These kingpins then use their ill-gotten gains to fund both legitimate business activities as well as various criminal operations, including further piracy, human trafficking, and drug and arms dealing. More...