Ecuador Adopts Initiatives to Discourage Money Laundering

Money laundering activity in Ecuador has escalated in recent years reflecting a trend which is sweeping across the South American continent. While Peru, Bolivia, and Colombia have traditionally been countries where a large amount of money laundering occurs, this activity has spread to other South American nations as launderers seek safe havens for illicit funds. Ecuador’s popularity as a laundering center has increased due to the large number of currency exchange houses in the country, many of which are situated on the borders of Colombia and Peru…[more]