More suspicious data
I was reading McAfee's recent report Unsecured Economies: Protecting Vital Information, when I came across a claim that looked extremely suspicious. It seemed so inaccurate that I wanted to say that it was just plain wrong. This wasn't this report's estimates that cyber-crime costs the world about $1 trillion per year. I started reading this report to see how they got that estimate, but I came across something that struck me as being probably wrong well before I got to that.
Here's what this report says, quoting Tim Shimeall of Carnegie Mellon University, who was talking about how rich the Russian mafia is when he said:
They have immense resources and proved to be ruthless. It is stated that eight percent of the the world's deposits is owned by them. With resources like that, the mafia can build its own communication infrastructure.
The claim that the Russian mafia owns eight percent of the world's deposits struck me as being obviously false, so I looked around for some reasonable accurate data on how much money is actually in the world's banks. From what I could find, it looks like the money supply of Germany is a bit less that eight percent of the world's money supply. Does the Russian mafia really have more money than the entire country of Germany does? I doubt it. So although I'm sure that the Russian mafia has lots of money, I'm also fairly confident that it's not even close to eight percent of the world's deposits.