NCJ Number
152986
Date Published
1994
Length
20 pages
Annotation
This report describes the economic reforms initiated in Colombia in 1990 and their impacts on the laundering of money from drug trafficking.
Abstract
The Colombian Apertura opening program features a movement toward privatizing major government-owned companies and liberalizing Colombia's economy in an effort to attract and generate capital. As these reforms have proceeded, Colombian drug kingpins have taken advantage of the easier opportunities to launder money and safeguard their illicit wealth within Colombia. In addition, the revenue generated from drug trafficking has permeated every facet of Colombian society. Each drug dollar entering the drug kingpins' accounts increases their political and economic influence on the government, establishing a dangerous precedent for the region. Without the implementation and enforcement of money laundering laws and the enactment of an extradition treaty with the United States, the economic reforms will increase the difficulty the governments of both countries have in effectively addressing drug trafficking. Figures