The Attorney General of Peru stated that $10 Billion in illicit funds was laundered in the country in 2012, double the estimated $5 Billion that was laundered in 2011.  The money laundering activity that takes place in Peru accounts for 3.5 percent of the country’s GDP.

(Additional money laundering techniques.)

One new black market crime that is contributing to the funds is extortion. Gangs in a northern city collected over $900,000 in extortion fees between 2012 and 2013 from 14,000 taxi drivers. The funds were deposited into 150 different bank accounts.

According to Insight Crime, other major black market activities in Peru including drug trafficking, which generates up to $1.2 Billion a year, and illegal logging, a $500 Million industry.

Source:  Marguerite Cawley, “Growth of Extortion a Major Concern for Peru: Official,” Insight Crime, October 31, 2013.

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