Every one likes a good deal, but if it sounds too good to be true, it usually is.
At some level, we all know that. But there are many people around the world who can't pass up a bargain, which is just what the bad guys are counting on, according to a new book by retail expert Hitha Prabhakar, Black Market Billions: How Organized Retail Crime Funds Global Terrorists.
After doing extensive research and following the money trail first-hand, the Bloomberg TV correspondent uncovered a $38 billion black market business that funds not only organized crime, but also terrorist groups like Hezbollah and Al Qaeda as well as drug lords in Central America. And the business is growing, she says, driven by the rise of the Internet, social media and the accessibility to disposable cell phones.
Prabhakar was turned on to this underground business after receiving an offer via text message for luxury designer handbags at a fraction of the retail price, she tells The Daily Ticker Aaron Task in the accompanying video.
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