Crisis turns Mafia into Italy’s ‘No.1 bank’

Organised crime has tightened its grip on the Italian economy during the economic crisis, making the Mafia the country’s biggest bank and squeezing the life out of thousands of small firms, according to a report.

Extortionate lending by criminal groups had become a national emergency“, said the report by anti-crime group SOS Impresa, released overnight.

Organised crime now generated annual turnover of about 140 billion euros ($175 billion) and profits of more than 100 billion euros, it added — via redwolf.newsvine.com