What appears to be a basic case of money laundering using virtual assets in Guatemala for about US$29 million (about Q229 million), was evidenced by a report by the Latin American Financial Action Group (Gafilat) on Regional typologies 2021-2022.
The case called “Placement and stratification of funds from drug trafficking”, which is part of the “Biennial Exercise of Regional Typologies Gafilat 2023”, is based on the collection of cash funds, without providing a further explanation about the origin, but identifies multiple deposits that were made in a corridor of border geographic areas, between Petén , San Marcos, Chiquimula and Guatemala.
The amount involved is US$29 million 370 thousand, which is equivalent to about Q229 million 86 thousand, and which went to entities that are dedicated to being providers of virtual assets, so it is assumed that “the profits” are invested there. obtained from the structure, according to the typology, – which is the study of the offender’s behavioral pattern.
The file presented shows that the predicate crimes are:
- Drug trafficking
- Illicit migrant smuggling
- Scam
And it considers banking entities to be vulnerable sectors, according to the regional report.
List of accounts with each other
In the network there is a transfer of money between accounts that are interrelated with each other and it is confirmed that there is a concentration of funds towards the accounts in the name of the “entities 1 and 2” which are the ones used to send international transfers, especially to North America.
For that reason, it is said that there is a possible stratification of money, using several related accounts. In addition, it is possible to identify that the money falls into a destination of an alleged provider of liquidity and digital asset technology in common with the “entities 1 and 2”.
In one part of the investigation, it is established that there is inconsistency between the amount of financial operations carried out, with the approximate monthly income and expenses – a practice known as tonnage – indicated by those involved at the beginning of the relationship with the obligated subject.
In the return of funds by the “entity 3” in favor of the “entity 1”, Then it moves to another Central American country in favor of various legal entities and individuals. The diagram identifies Costa Rica as a destination, for commercial and real estate companies, and for a group of individuals.
ant plan
The Gafilat report shows that, constantly, the collection of cash was observed through monetary and savings accounts in the denomination of national and foreign currency, which were registered in the names of citizens and legal entities in various entities. banking, especially in branches located in the border territories.
It is broken down that the deposits were made by these individual people who stated that they had been contacted by investors who work in a chain or using an “ant plan”, so the true nature of the investment is unknown, since it could be a possible scheme. pyramid scam or fraud.
The document indicates that, in the due diligence, carried out by the obligated subject, cases of individual persons (depositors) involved in illegal migrant smuggling and drug trafficking were identified. Likewise, to other people who have already been reported by the financial intelligence unit (UIF) to the criminal prosecution body.
From cash in quetzales to virtual assets
Part of the presentation of the case states that more than half of the credited funds correspond to the transfer of money between several accounts in quetzals that are interrelated with each other, then, they are concentrated in dollar accounts in the name of the “entities 1 and 2”and which are dedicated to the provision of services related to virtual assets, establishing a possible stratification of funds for sending transfers to North America.
It is estimated that more than 90% of the funds raised are transferred through transfers in favor of the “entity 3”located in the United States, and whose activity is the provision of financial infrastructure services for the operations of companies dedicated to the exchange of cryptocurrencies, custody of tokens, bitcoins and other assets, processing of funds, financial intelligence services and investments.
One of the presumptions about this case is that the scheme belongs to criminal groups that offer loans, carrying out scams to raise funds, as well as other criminal activities such as drug trafficking and illegal human trafficking, and the profits obtained are “invested” in the assets. virtual.
In the return phase of the flow of funds from the United States, it is verified through the receipt of international transfers that the payer or “entity 3” has as beneficiary the “entity 1”which subsequently makes the transfers to Costa Rica in favor of firms that are dedicated to commercial activities, real estate and individuals.
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