Cielo Vista

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

August 15, 2014

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.

Facebook Comments

You may be interested

Morning-after pill can now be sold without a prescription in Costa Rica
Costa Rica
38 views
Costa Rica
38 views

Morning-after pill can now be sold without a prescription in Costa Rica

Alejandro Zúñiga - May 18, 2019

Levonorgestrel, marketed commercially as "Plan B" and commonly known as the morning-after pill, can legally be sold without a prescription…

Pic of the Day: A busy day in San José
Pic of the Day
2 views
Pic of the Day
2 views

Pic of the Day: A busy day in San José

The Tico Times - May 18, 2019

Costa Rica wants to reorganize its chaotic transport system and start decarbonizing its economy with a modern electric train through…

MINAE raises alarm about drug trafficking in Costa Rica’s protected land
Costa Rica
61 views
Costa Rica
61 views

MINAE raises alarm about drug trafficking in Costa Rica’s protected land

Rita Valverde / Semanario Universidad - May 17, 2019

The Environment and Energy Ministry (MINAE) has requested assistance from the Public Security Ministry in the face of increased drug…

Do NOT follow this link or you will be banned from the site!