Flows of Illicit Money from Central America Still Growing

The Global Financial Integrity report notes that between 2004 and 2013 the flows of money from Costa Rica from laundering and other illicit sources increased by 10% compared to the period 2003-2012.

Thursday, December 10, 2015

EDITORIAL

The report entitled "Illicit Financial Flows from Developing Countries: 2004-2013" by Global Financial Integrity, shows that during the 10 years in question, the flow of illicit money from Costa Rica exceeded $11 billion. In the report prepared by Global Financial Integrity, Costa Rica is located at position 15 in the world, surpassed in Latin America in absolute terms only by Mexico ($53 billion) and Brazil ($23 billion). In relation to population or GDP, Costa Rica is a world leader in flows of illicit money.

In Central America, next in the list is Honduras at position 31 ($4.7 billion), then Nicaragua (41, $3 billion), Guatemala (50, $2.2 billion), Panama (52, $2.1 billion) and finally El Salvador (56, $1.7 billion), out of a global ranking of 149 countries.

See "Illicit Financial Flows from Developing Coutries: 2004-2013 ".
See: "An Overview of the Analytical Methodologies Utilized by Global Financial Integrity to Study Illicit Financial Flows".



More on this topic

Money Laundering in Central America

March 2017

The housing market, casinos, concert halls, and the livestock sector are all used to launder money in Central American countries.

Excerpted from the report "International Narcotics Control Strategy Report, Volume II, Money Laundering and Financial Crimes" by the  US State Department:

$4.2 billion Laundered in Costa Rica Per Year

March 2016

The figure is an estimate made by the Intelligence Directorate in Costa Rica released by the US State Department, along with information that indicates a rise in criminal organizations based in the country, and little capacity to combat them.

Money laundering is a criminal activity that handles amounts that are difficult to measure.

Flow of Illicit Money in Central America Increases

March 2015

The Global Financial Integrity report places Costa Rica and Panama in positions 14 and 18 in the list of countries that moved the largest flows of illegal money in the world between 2003 and 2012.

EDITORIAL

The report entitled "Illicit Financial Flows from Developing Countries: 2003-2012" by Global Financial Integrity, said that between those years, the flow of illicit money in Costa Rica exceeded $94 billion, about $30 billion more than the amount accumulated between 2001 and 2011, according to reports from the same institution in mid-2013.

The Relevant Role of Money Laundering

May 2013

The movement of illicit capital in Costa Rica and Panama counts for more than 10% of their respective GDP, meaning that its removal would be a major blow to their economies.

Editorial

The report entitled "Illicit Financial Flows from Developing Countries: 2001-2010" by Global Financial Integrity, reveals that during the first 10 years of the new century, the flow of illicit money in Costa Rica amounted to $64 billion, while in Panama the total was $40 billion.

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