Suspicious Financial Transactions in Costa Rica in 2012

Regulators in Costa Rica received 302 reports of suspicious financial transactions in 2012, according to the Money Laundering Unit of theĀ JudicialĀ Investigation Organization.

As of April 2013, the unit was in the process of actively investigating 16 major cases of money laundering involving casinos, sportsbooks and small-scale businesses such as carwashes.

(Illegal gambling statistics.)

Authorities believe that most of the money that is laundered in Costa Rica originates from Mexico. After the money is washed through legitimate businesses in Costa Rica, the money then is wired to banks in Panama.

Source: “Casinos, sportsbooks, even bakeries investigated for money laundering,” Inside Costa Rica, April 15, 2013.