Organized Crime & Gangs

East Africa pirates took up to $413m since 2005: study

“Horn of Africa pirates have raked in up to $413 million (Dh1.5 billion) in ransom since 2005, with most of it used to finance ‘global scale’ criminal operations, a new study said Friday. The study said the pirates themselves get little of the money paid them by international ship and cargo owners, with their financiers getting most of the take. The money then is spun into criminal operations including arms trafficking, migrant smuggling, and to fund militias, as well as into legitimate businesses, according to the joint study by the World Bank, United Nations and Interpol.”

Source: East Africa pirates took up to $413m since 2005: study | GulfNews.com

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