American Expatriate Costa Rica

US warns: narcs are the biggest “launderers” in Costa Rica

Those luxury cars that you see in the streets or the life of opulence that many live, suspiciously, could have a clear explanation…

The US Department of State indicated in a report that drug trafficking is the largest “launderer” of illicit capital in Costa Rica.

To the fame of an eco-friendly country, respectful of human rights and without an army, we must add something that unfortunately is describing Costa Rica in the eyes of other countries: the penetration of organized crime and a buoyant money laundering “industry”.

It is difficult to accept, but it is the reality.

The US Department of State Included Costa Rica among the countries with most money laundering during 2016. This is clear from the 2017 International Narcotics Control Strategy report, presented on March 2nd.

The product of drug trafficking represents the largest source of wasted assets. Trafficking in persons, financial fraud, corruption and smuggling generate illicit income,”

said the report.

According to the analysis, these crimes went squarely in different sectors of Costa Rican commercial reality.

Construction, casinos and the real estate sector were identified as ‘vulnerable’ for criminal propagation,”

stated the report.

Implications also include state and private financial institutions.

On the other hand, the US noted that gambling websites operate legally in Costa Rica, but in North America there are criminal prosecutions for laundering millions of dollars from Costa Rican territory using these companies.

The North American country highlighted the intentions of Costa Rica: there are projects against tax fraud, to extinguish domains and others that seek more rigorous records of corporations. All of that is only part of how much the country still has to achieve.

crhoy.com