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The Economist – Ecuador and financial crime – The Andean laundry – Worries that organised crime is tightening its grip

DATE: Thu, Mar. 25, 2010 POSTED IN: Ecuador News

IT WAS long an island of tranquillity surrounded by countries racked by guerrillas and drug trafficking. But whereas violence has declined in Colombia and Peru, Ecuador has acquired a reputation as a new capital of financial crime. Last month the Financial Action Task Force, an inter-governmental body, declared that Ecuador has not shown “a clear high-level political commitment” to address its “strategic deficiencies” in fighting money laundering and the financing of terrorism. That put it on a list with the likes of North Korea, Iran and Turkmenistan.
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