PARAGUAYAN RAIDS HIGHLIGHT US INTERMEDIARIES’ ROLE IN MONEY LAUNDERING IN TRI-BORDER AREA

On 17 December, the Foundation for the Defense of Democracies reported that Paraguayan authorities have raided the offices of a dozen US-linked companies and their accountants tied to suspected Paraguayan drug kingpin and linked to the Tri-Border Area (TBA) of Argentina, Brazil, and Paraguay.  It is said that this reflects the growing role of US import-export businesses in conducting suspicious transactions with their TBA counterparts.  It is said that TBA trade-based money laundering schemes heavily rely on US-based companies, many of which are located in Florida.  The raid and the evidence it may yield could offer important data to US investigators about the activities of major Latin American money launderers in the US.

https://www.fdd.org/analysis/2021/12/17/paraguayan-raids-tba-money-laundering/

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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