Six billion a year money laundered in Peru

Money laundering in Peru moves some $6 billion per year, with two-thirds of that amount coming from the illegal gold industry, Peru’s attorney general, Jose Pelaez, said. Illegal gold mining moves around $4 billion a year, while drug trafficking moves the rest of the $2 billion per year, Pelaez said. Elmer Cuba of Macroconsult, puts the figures at $1.8 bn for illegal gold —22 per cent of total gold exports— and $1.2 bn for cocaine.
Pelaez said that the implementation of new laws to detect money laundering in illegal mining will allow for improved investigations. Read Article