Thursday, March 25, 2010
Ecuador Hot Spot for Financial Crimes
Ecuador has become a popular spot for money laundering and other related illegal activities. Money laundering is facilitated by Ecuador's use of the American dollar as well as its weak laws. This money is frequently used to sponsor terrorist activities, making it an even bigger problem. It is comparable to the activities of North Korea, Iran, and Turkmenistan. An increase in Russian bouncers and South Asian and South African cliental in the Ecuadorian nightlife also contribute to concern over laundering. The government currently denies these occurrences, but has been instead addressing drug trafficking problems, increasing army and police forces and severely cracking down.