A joint operation against money laundering and terrorist financing, called “TENTACLE-Latin America”, culminated last April with combined seizures totaling nearly US$3 million, the World Customs Organization (WCO) announced.
The TENTACLE Project in Latin America involved the work of the WCO, the Egmont Group, the Financial Intelligence Units (FIU) and the International Criminal Police Organization (INTERPOL).
El Secretary General of the WCO, Kunio Mikuriya, said that “the success of Operation TENTACLE-Latin America clearly shows the need for Customs, Police and FIUs to work together continuously in the fight against money laundering.”
According to the world's top customs authority, "the illicit movement of foreign currency, gold, silver, diamonds and precious stones across borders continues to be widely used by organised crime groups to launder the proceeds of their illicit activities."
Operation TENTACLE-Latin America provided important intelligence to participating law enforcement and regulatory agencies. Seizure data revealed that criminal networks routinely use postal and express services to smuggle diamonds and gemstones. The Operation uncovered multiple suspected “carousel fraud” schemes involving the movement of gold and silver through two or three countries to launder illicit proceeds held by organized crime groups, including cocaine cartels.
This Operation involved the participation of Customs, UIF and police services in nine different countries in Latin America, including Customs services in Brazil, Chile, Colombia, Costa Rica, the Dominican Republic, Ecuador, and Panama, as well as the United States. Also, to Homeland Security Investigations (HSI) and Customs and Border Protection (CBP), Customs Service and Guardia di Finanza of Italy and Guardia Civil of Spain.
“Understanding crime and its patterns is a universal need among all international stakeholders in combating money laundering and terrorist financing, so collaborating, developing synergies and leveraging limited resources with partners around the world is crucial to mitigating evolving financial crime risks and suppressing terrorist financing,” he said. Hennie Verbeek-Kusters, President of the Egmont Group.
The leader described the operation as “another significant example of how successful close collaboration between multiple organisations can be.”
The Operation, which began on March 1, 2022, led to the detection or seizure of more than USD 1,3 million in smuggled currency and more than USD 700.000 worth of smuggled gold, diamonds and other precious stones.
What did the authorities discover?
Brazilian Customs recorded seizures of diamonds and semi-precious stones, including emeralds, with an estimated value of more than USD 70.000, while the Coastal Customs Rica carried out seizures of foreign currency worth more than USD 115.000.
La Chilean Customs made 16 seizures during the operation, including the discovery of $278.000 in cash, 528 kilograms of silver, more than 100 pieces of platinum and gold jewelry, and 15 diamonds with an estimated value of $940.000. Subsequent efforts led directly to five multi-jurisdictional investigations.
The collaboration of the Operational Coordination Unit, based in the Dominican Republic, and the liaison with participating Latin American and European agencies resulted in four international money laundering investigations. The diligence of the Dominican Customs Service resulted in the largest cash seizure of the Operation: USD 482.300 from an individual attempting to leave the country on a private plane. This seizure led to a joint money laundering investigation involving law enforcement agencies in three countries.
El Italian Customs Service (Dog and Monopoli Agency) intercepted more than USD 180.000 in contraband currency during the month-long enforcement operation.
La Spanish Civil Guard also recorded six seizures during the Operation, totaling more than USD 60.000 in contraband currency.
This operation was the first WCO-led anti-money laundering and counter-terrorism financing operational initiative in the Western Hemisphere since the launch of Project TENTACLE in 2019. It was a direct result of two workshops held in January and February 2022, the World Customs Organization said. (WCO Press Release)
Aduana News is the first Argentine customs newspaper to launch its digital version. With 20 years of experience, its publications and initiatives aim to provide the most relevant knowledge on customs issues in order to contribute to safe trade in the region.
