Ecuador’s Financial Crime Observatory Unveils Databases on Money Laundering and Tax Evasion

A groundbreaking initiative in Ecuador aims to combat financial crime through a collaborative platform that brings together state-of-the-art data analysis and ethnography.

The Observatory of Financial Crime (OFC)

Led by a team of experts, the OFC is a network of organizations dedicated to uncovering the intricacies of money laundering, tax evasion, and credit fraud. The team includes Jorge and Cristian Aguirre, Roberto Santamaría, and Renato.

The OFC has created an interactive digital platform that fosters data sharing and collaborative research. This innovative approach democratizes applied policy research, empowering users to build visual narratives around pressing financial issues.

Open Data on Financial Crime

The platform offers open data on various forms of financial crime, including:

Money laundering lawsuits: a comprehensive database of money laundering cases
Offshore tax crimes: information on offshore tax evasion and related crimes
Double taxation: datasets on double taxation and its consequences
Illegal credit transactions: records of illegal credit transactions at different scales

Ethnographic Case Studies

The OFC’s datasets also feature ethnographic case studies of financial pyramids in Ecuador, with a focus on the recent rise of electronic money.

Collaborative Data Generation

The OFC’s datasets are generated by a coalition of institutions, including:

Ecuadorian National Police: contributing data on financial crimes
Judiciary Council: providing information on court cases and decisions
Financial regulators: offering insights into regulatory actions and enforcement
Bank customer associations: sharing data on banking practices and customer experiences
NGOs: providing perspectives on social and economic impacts of financial crime
Universities: conducting research and analysis on financial crime and its consequences

Interinstitutional Council

The OFC’s Interinstitutional Council meets regularly to validate and analyze the data. This collaborative approach ensures that the datasets are accurate, comprehensive, and relevant.

Real-World Applications

One notable example of the OFC’s work is its current mapping of real estate prices and money laundering in Manta. This initiative highlights the importance of strengthening data quality and interoperability in Ecuador, where banking management has often been shrouded in a lack of accountability and transparency.

Empowering Citizen Oversight and Democratic Controls

The OFC’s efforts aim to promote citizen oversight and democratic controls in financial management, ultimately contributing to a more transparent and accountable system. By providing accessible and interactive databases, the Observatory of Financial Crime is empowering researchers, policymakers, and citizens to tackle the complex issues surrounding financial crime in Ecuador.