PERU’S ILLICIT GOLD MINES TRADE FUEL MONEY LAUNDERING
June 1st, 2016
Peru has taken major steps in establishing a robust anti-money laundering (AML) system, but with thriving and evolving criminal black markets, deep-rooted corruption and a large informal business sector, serious challenges remain. According to a US State Department’s 2015 anti-narcotics control strategy report, criminal funds make up around 3.5% of the country’s GDP – which would amount to USD7 billion. Peru’s attorney general office released an assessment in 2013 that USD10 billion of illicit profits are laundered in Peru every year. Between 2007 and ...
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