Role of Casinos and Real Estate in Money Laundering

Experts consider that real estate, physical and virtual casinos, and failed businesses have conditions for being used in money laundering activities.

Wednesday, October 30, 2013

An article in, reports that Luis Amador, Chairman of the Compliance Committee of the Costa Rican Banking Association (ABC), said: "From the economic activities that we identified as most at risk, the real estate sector is where the most money is laundered. Additionally, we have also identified some patterns or some features that might indicate some level of risk with emerging capital creation without any justification, and in the use of failed companies. "

Amador also pointed to money laundering activities such as the "incursion of foreign funds or assets in which we also can not make a reliable verification of the origin of the funds. Basically that's what has been seen in recent years."

International institutions indicate that globally money laundering represents between 2% and 5% of global GDP.

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