Money Laundering in Ecuador and Latin America: A Comprehensive Review

Introduction

Money laundering is a significant concern in Ecuador and Latin America, with various sources providing valuable insights into its complexities. This article aims to summarize key points related to money laundering in the region, highlighting the importance of controls, forensic auditing, and law enforcement.

Key Findings

Importance of Controls

• Eslava (2012) emphasizes the crucial role of control management in companies for preventing and detecting money laundering.
• Andrade (2009) provides an overview of money laundering in Ecuador, highlighting notable cases such as Prada.

Forensic Audit and Investigation

• Calderón (2017) explores the role of forensic auditing in investigations, while Rozas (2009) highlights its importance in preventing money laundering.
• Luo (2014) proposes a suspicious transaction detection system for anti-money laundering.

Money Laundering Laws and Regulations

• FINCEN (2017) provides an overview of anti-money laundering laws and regulations in the United States, while GAFILAT (2017) discusses Latin American financial action task forces.
• Normah et al. (2014) review FATF special recommendation VIII.

Economic Impact

• Esteban et al. (2012) examine the social-economic impact of money laundering, while UIAF (2014) explores its economic dimension.

Conclusion

The references provide valuable insights into the complex issue of money laundering in Ecuador and Latin America, highlighting the importance of controls, forensic auditing, and law enforcement in preventing and detecting this crime.