No menu items!

COSTA RICA'S LEADING ENGLISH LANGUAGE NEWSPAPER

HomeArchiveCosta Rica public security minister: Recent money laundering investigations are 'sign that...

Costa Rica public security minister: Recent money laundering investigations are ‘sign that the system works’

Following the discovery of another large money laundering operation in Costa Rica this week, the country’s public security minister said that investigations were proof that the system “works.”

On Thursday, agents from the Judicial Investigation Police raided four locations in San José as part of a money laundering case involving a Costa Rican lawyer and a Venezuelan national. Authorities froze $15.5 million in suspicious transfers. There were no arrests.

Public Security Minister Mario Zamora said that this latest bust shows that Costa Rica has the means and the political will to investigate and prosecute financial crime.

News of this latest investigation comes on the heels of an arrest in the biggest money-laundering operation in history smashed by Costa Rican and United States authorities. Last May, Arthur Budovsky Belanchuk, a Costa Rican citizen, was arrested at Madrid’s Barajas International Airport in connection with the illicit network that funneled $6 billion from illegal sources into 16 countries via a money wiring service called Liberty Reserve.

Costa Rica’s lax regulation of online businesses attracts groups from around the world to set up Internet gambling and other more notorious operations in the country, reported The Associated Press in Salon.

Zamora pushed back against the characterization of Costa Rica as a “paradise” for money laundering, noting that only $100 million of the $6 billion laundered through Liberty passed through Costa Rica.

“The drug trafficking phenomenon and its generation of profits is present in the region and established in the banking system and illicit networks. This is part of the challenge facing our country,” Zamora said.

Trending Now

Costa Rica National Stadium Renamed INS Estadio in Historic Deal

The National Stadium, a key landmark in La Sabana Metropolitan Park, now carries a new title after a sponsorship agreement. Yesterday, the venue officially...

Costa Rica’s Air Travel is Evolving with Route Shifts

Airlines are reshaping their paths to Costa Rica, with some Latin American carriers pulling back while others from Canada, Mexico, and Europe step up...

Costa Rican President Brushes Off Surge in Homicides

President Rodrigo Chaves has again brushed off Costa Rica's mounting security problems, labeling them as misunderstandings in a recent interview. Speaking on FOX Noticias,...

Nicaragua Alleges Costa Rican Police Tried to Detain Player

Tensions ran high at the National Stadium here in Costa Rica last night when police officers entered the Nicaraguan team's locker room moments before...

Costa Rica Faces Calls to Strengthen Shark Protection Enforcement

Costa Rica faces growing pressure from environmental experts and lawyers to tighten enforcement of laws protecting endangered sharks. Recent court rulings have highlighted gaps...

Starbucks Honors Costa Rica’s Coffee Roots in October Festivities

Coffee runs deep in our veins, a tradition that started in the 1700s and shapes our country's economy and culture today. This October, Starbucks...
spot_img
Costa Rica Coffee Maker Chorreador
Costa Rica Coffee Maker Chorreador
Costa Rica Travel Insurance
Costa Rica Rocking Chait
Costa Rica Travel

Latest News from Costa Rica