The Danger of Drug Money LaunderingIn the small Central American economies, the effects of the intrusion of drug money would be devastating.Tuesday, April 28, 2009
Although there are increasing rumors of money laundering from the sale of drugs in the Central American financial system, the phenomenon is far from having the magnitude that it has in Mexico and Colombia. However, the pressure that is being exerted in these countries against drug trafficking activities is forcing criminals to look to other countries in the region, searching for lesser repression. Central American countries are, for various reasons, including the weakness of their police forces, the most likely for this undesirable migration. Source: elfinancierocr.com ¿Busca soluciones de inteligencia comercial para su empresa?Honduras: Drug Trafficking and the EconomyOctober 2015 Money laundering has positive economic effect on economies, but also impoverishes the quality of institutions leading to dramatic effects on quality of life in society. Flow of Illicit Money in Central America IncreasesMarch 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. The Relevant Role of Money LaunderingMay 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. Money Laundering in Costa RicaMarch 2013 Renting hotels and low interest loans to businessman with financial problems, have joined other traditional forms of money laundering.
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