Saturday 05 March 2011

http://www.insidecostarica.com/dailynews/2011/march/05/costarica11030503.htm

The United States Department of State has listed Costa Rica among 64 other nations classified as “Major Money Laundering Countries”. Costa Rica also enjoys the distinction of being named as a “Major Illicit Drug Producing or Drug Transit Countries”, as certified by United States President Barrack Obama in September of 2010.

Recently the Organization for Economic Cooperation and Development estimated that $4.4 billion in illegal money related to narcotics passes through Costa Rica annually.

The designation of Costa Rica as a Money Laundering Country was included as part of the 2011 International Narcotics Control Strategy Report (INCSR), which is an annual report by the United States Department of State to Congress prepared in accordance with the Foreign Assistance Act. It describes the efforts of key countries to attack all aspects of the international drug trade in Calendar Year 2010. Volume I covers drug and chemical control activities. Volume II covers money laundering and financial crimes.