Belize's money laundering regime

Grace Kranstover and Ragini Chatterjee, Research Associates at the Council on Hemispheric Affairs, take a look at The State's Secret: Belize's Money Laundering Regime.

Nestled on the northeastern coast of Central America, Belize is often named one of Central America’s most beautiful vacation destinations. With its ornate coral reefs and rainforest, the small English-speaking country has plenty to offer for tourists looking for tropical adventures. Yet, Belize is rapidly becoming known to the international community for attracting many drug trafficking organizations known for transporting marijuana and cocaine into North America. Since the country’s currency is conveniently pegged to the U.S. dollar, Belize also offers nonresidents the opportunity to run offshore accounts. Money laundering has become a prime form of funding for many criminal organizations. As a result, the United States Department of State has recently named Belize one of the world’s “major money laundering countries.”[1]

But it's not just about money laundering. Take a look at what Julie Lopez wrote last year with Organized Crime and Insecurity in Belize. I provided a few comments as well that will show up in Belize's 2013 Freedom in the World Report.