Guatemala: More Suspicious Transactions Being Reported

In the first half of the year, bank transactions totalling $395 million were reported as having characteristics related to money laundering.

Wednesday, August 9, 2017

The value of transactions reported as suspicious between January and July this year is nearly double that of suspicious transactions in the first half of last year, when $200 million was recorded. reports that "...The figure recorded in the first seven months of the year is very close to what it was for the entire year last year, when 89 complaints were filed for a total of $409 million."

See also: "Illicit Money in Central America"

José Alejandro Arévalo, superintendent of the Superintendency of Banks, explained that "... they have been informed by the Special Verification Office (IRI) of 1,059 reports of suspicious transactions (RTS), which have been analyzed and in which 1,375 people were involved. "The idea is to lower (the reports), otherwise, it means that there are more suspicious operations," said the superintendent, who noted that there are improvements in cases reported by entities, which include banks, insurers, real estate or vehicles vendors, among others."

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As of June, 883 correspondents in El Salvador were registered in El Salvador, with a total of $128 million in transactions.

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Obligation to Report Suspicious Transactions

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A year after laws were approved to prevent money laundering in Panama there are still companies that have not been registered and will not be able to report suspicious transactions.

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Double Tax on Financial Transactions

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Costa Rica: 'Tobin' Tax Resurfaces

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