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With Trade Expansions Come Heightened Risks of Money Laundering, Tax Evasion
By Colby Adams
printThree recently adopted international treaties drafted to foster trade between the Americas and Europe will also make it easier for financial criminals to launder money, say attorneys and former investigators. On Dec. 13, Peru approved a free trade agreement (FTA) with the European Union and Colombia that will facilitate agricultural and other trade. Bolivia and Ecuador are weighing whether to join the agreement, which will also allow financial services firms based in signatory countries to expand branches and subsidiaries. The treaties roughly coincide with similar efforts by the United States, whose FTA with Panama took effect in October five months...
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