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Colombia´s yearly money laundering exceeds 8 billion dollars.

Money laundering exceeds 8 billion dollars in Colombia, every year.

Attorney General’s Office, Viviane Morales, said yesterday in Beijing that the growth of money laundering in Colombia has taken a rapid pace and now exceeds 3% of the country’s gross domestic product, or approximately 8 billion dollars per year.

She said these are the results of  a study made by the colombian Information and Financial Analysis Institute.

“The International Monetary Fund IMF found that between 2006 and 2011 the average money laundering worldwide was between 2% and 5% of GDP,” said Morales, to emphasize that money laundering has become a regressive tax paid by Colombians.

The Pan American Congress on Risk Money Laundering and Financing of Terrorism, said the state lacks the capacity to tackle this crime, and the american countries should adopt policies to combat this crime.

The president of Asobancaria (Banking Association of Colombia) , Maria Mercedes Cuellar, said that a tax of 4 every 1000 in the colombian banking sector encouraged to money laundering. “… this is of the main sources of money laundering in this country, and that makes is the fact that there is such a tax because it leads people to pay in cash,” she said.

The President of the Bankers Association also said that if all transactions were through the banking system, it could easily follow the path of any transaction.