06262017Headline:
5 Green Reasons Costa Rica Is the Poster Child of the Environment 3 years ago
Have You Tried Guanacaste’s Fastest Growing Sport? 3 years ago
Was Your Costa Rican Bank Account Closed? 3 years ago
Latin America Investment News on Viva Tropical

Money Laundering Continues at Average Pace in Guatemala

Article Summary:

The legalization of capital or money laundering remains at average risk in Guatemala, according to the Basel Institute on Governance, through its International Centre for Asset Recovery. The country ranks 58 out of 114 nations analyzed for the effectiveness of the fight against money laundering.

Photo Credit: Siglo 21

Original Article Text From Siglo 21 via Google Translate :

Country With Medium Risk Money Laundering

Guatemala has put 58 of 144 nations in which the number one is the worst

The legalization of capital or money laundering remains at average risk in Guatemala, according to the Basel Institute on Governance, through its International Centre for Asset Recovery (ICAR).

The country’s rating was 6.01 and is at position 58 of 144 countries evaluated. The result is part of the Index on Risk Money Laundering and the lower the score less risk exists. Conversely, if the position on the ranking is closer to the number one, exposure to such events occurring is higher.

Norway and Estonia achieved the lowest levels of risk positions 144 and 143 respectively, while Iran and Kenya are the first two countries at high risk (read: positions ).

Central America is at medium level. The lowest of the region, and therefore less risky, is El Salvador with a score of 5.08 and ranked 107. Nicaragua remains in position 66, scoring 5.87. Panama was 5.98 and is ranked 60, while Costa Rica Honduras with 6.02 and 6.50, and occupy the sites 57 and 38.

This index ranks the risk level of the countries regarding money laundering and terrorist financing. This is the first ranking global public provision made ​​by an independent academic institution.

The Special Audit Office (IVE), the Superintendency of Banks (SB) has been reported in the first two months of 2012 the location of Q61.65 million from money laundering. In that period there were 14 complaints involving 164 people.

Missing actions
The analyst at the Association for Research and Social Studies (ASIES) Carlos Gonzalez said that while the fight against illegal movement of money has improved, there are situations out of control because the IVE is limited to monitoring the passing banks (read: Also of corruption ).

“It has come full circle for more information, but there is the feeling that something is missing.”

Although it is believed that money laundering has a negative impact on taxation, the American analyst at the Institute for Fiscal Studies (ICEFI) Jonathan Menkos said that there is no specific calculation on the subject. The Tax Authority (SAT) said it has no estimates of the impact it could cause.

In figures
14 COMPLAINTS money laundering has presented the ive

61 QUETZALES MILLION is the amount of what has been located as money laundering

Also of corruption
Regarding money laundering, there is the paradigm that is money from drug trafficking, but the general manager of the Development Foundation of Guatemala (Fundesa), Juan Carlos Zapata, said that many times are proceeds from the public sector corruption.

“One of the first actions to combat money laundering is to strengthen the mechanisms of transparency in the country, because often, when talking about this problem only think about drug trafficking,” said Zapata.

Link to Original Article:

From Siglo 21

Latin America Investment News on Viva Tropical