Money laundering

“I want to once more ratify Costa Rica’s opinion in the sense that those ills — organized crime, terrorism — must be fought off in all ways possible by the international community,” the president said.

Costa Rica’s new strategy against money laundering and terrorism financing aims to tighten controls on remittances and the use and transportation of cash.

The two suspects could face 15 years in prison if convicted of money laundering.

Call centers are one of the fastest growing sectors of the Costa Rican economy, but this boom industry has a dark side. Costa Rica was home to a massive telemarketing scam that defrauded thousands of U.S. citizens — most over the age of 55 — of upwards of $20 million. Prosecutors in the Western District of North Carolina have convicted 46 defendants from the United States related to the sweepstakes fraud to date.

Police arrested the 45-year-old bus driver, identified by the last name Aiza, and another man on board named Ulloa, 47.

The raids and arrests were the culmination of a Drug Control Police investigation into a group that allegedly trafficked drugs and cash across the Peñas Blancas border crossing with Nicaragua and on to Guatemala and Honduras.

A cache of secret bank files shows that HSBC's Swiss banking arm helped wealthy customers avoid taxes and hide millions of dollars, according to a report by a network of investigative journalists released Sunday.

The audit comes as Costa Rica tries to maintain its improving record on financial transparency after the largest alleged money laundering operation in history – the $6 billion Liberty Reserve – was shuttered in May 2013.

Agents from Costa Rica's Judicial Investigation Police, or OIJ, on Thursday morning arrested three employees of the BAC San José branch in Quepos, a port town next to the popular central Pacific tourist destination of Manuel Antonio, on suspicion of money laundering. A fourth suspect, believed to be the ringleader of the operation, is still at large, according to law enforcement sources.

The global monitoring organization Financial Action Task Force (FATF) is currently conducting an evaluation of money laundering activities associated with drug trafficking in Costa Rica. They are particularly focused on the real estate industry.