NewsWhore
04-30-2010, 07:00 PM
The lack of effective regulation systems to identify illicit investments works in favor of all who chose to launder money in the DR. This sort of investment is a headache for legitimate businesspeople.
Economist Miguel Ceara Hatton says that this "buried economy" is not subject to any controls and is outside the power of the monetary and financial systems, as reported in El Caribe. "There are no numbers. There are no calculations. Nobody has said this. The effects are perceived, but nobody knows to what extent money laundering is being introduced into businesses. This is the big dilemma", said Ceara, who is the United Nations Development Program representative in the Dominican Republic. The economist added, "Money laundering only exacerbates the country's institutional weaknesses, because there is always some friend or some commissioner or someone who gets resources who is willing to violate the rules, the law. There are no procedures and no controls".
More... (http://www.dr1.com/index.html#9)
Economist Miguel Ceara Hatton says that this "buried economy" is not subject to any controls and is outside the power of the monetary and financial systems, as reported in El Caribe. "There are no numbers. There are no calculations. Nobody has said this. The effects are perceived, but nobody knows to what extent money laundering is being introduced into businesses. This is the big dilemma", said Ceara, who is the United Nations Development Program representative in the Dominican Republic. The economist added, "Money laundering only exacerbates the country's institutional weaknesses, because there is always some friend or some commissioner or someone who gets resources who is willing to violate the rules, the law. There are no procedures and no controls".
More... (http://www.dr1.com/index.html#9)