Bulk Cash Smuggling in Ecuador

in Business Risk

In 2008, security services in Ecuador seized $545,000 in bulk cash that was illegally being smuggled across its borders. In 2012, authorities seized $1.9 Million and €215,000.

During the time period of 2008 to 2012, a total of $10 Million in US dollars and 215,000 Euros ($5 Million) was seized.  90 percent of the cash was seized at airports, where 79 people were also arrested for cash smuggling.

During the 4 years, authorities in Ecuador opened 70 criminal cases that resulted in 6 convictions.

Source:  James Bargent, “Ecuador Bulk Cash Smuggling Reflects New Laundering Trend,” Insight Crime, April 11, 2013.

(Examples of money laundering activities around the world.)

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