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Merseyside has a notorious reputation for serious and organised crime, yet this reputation has never been subject to sustained inquiry. This paper will rectify this, drawing on data gathered from published and unpublished reports, intercept evidence and interviews with specialist police officers tasked with policing serious and organised crime. Findings suggest that serious and organised crime is segmented into multiple markets and heterogeneous in its tradecraft and participants. It will be argued that whilst the data is clear, that entrepreneurialism is the core motivator for the criminality, the context of for its continuity is not simply absolute or relative poverty