HomeNewsBriefArgentina Drug Traffickers Laundered $269 Million: Minister
BRIEF

Argentina Drug Traffickers Laundered $269 Million: Minister

ARGENTINA / 4 AUG 2016 BY LUIS FERNANDO ALONSO EN

Argentina's Security Minister Patricia Bullrich recently revealed the scope of drug-related money laundering in the country, as part of an attempt to push new asset seizure legislation through Congress. 

"In the past five years, drug traffickers have laundered approximately $269 million," Bullrich said during a presentation before three senate committees. The security minister also cited a 2009 United Nations Office on Drugs and Crime report that stated traffickers in Argentina collectively earned approximately $1.1 billion annually, reported La Nacion.

Bullrich was trying to persuade the upper house to pass a bill that would strengthen the government's ability to seize illicitly obtained assets, according to La Nacion. The bill has already passed the lower house despite resistance from the political opposition.

The proposed legislation would allow the government to confiscate the assets of suspected traffickers even before the courts hand down a ruling. 

"We are looking for a tool to strip the assets immediately, so narcos can not continue using that money to build their business," Bullrich said. 

The security minister went on to say that confiscated assets would be put into government coffers to help equip security personnel and fund social projects.

InSight Crime Analysis

Bullrich's efforts to pass new asset seizure legislation suggests the administration of President Mauricio Macri is focused on targeting the finances of drug trafficking groups. Asset seizure programs can be a very useful tool for security forces looking to dismantle these criminal structures, but they are also prone to corruption and manipulation by those overseeing the assets once they are put into the government's possession.

This proposal also signals a further shift from the anti-drug policy of former President Cristina Fernández de Kirchner. Since Macri took office in December 2015, Argentina has approved a new shoot-down policy for suspected drug planes, issued a national security emergency, and signed a series of bilateral security cooperation agreements with the United States.

    SEE ALSO: Coverage of Argentina

Macri's tougher stance on drug trafficking comes amid growing evidence of the important role Argentina plays as a transit point and final destination for cocaine. The Anti-Drug Association of Argentina recently stated there are at least 1,500 clandestine landing strips available for drug planes to covertly enter the country. 

share icon icon icon

Was this content helpful?

We want to sustain Latin America’s largest organized crime database, but in order to do so, we need resources.

DONATE

What are your thoughts? Click here to send InSight Crime your comments.

We encourage readers to copy and distribute our work for non-commercial purposes, with attribution to InSight Crime in the byline and links to the original at both the top and bottom of the article. Check the Creative Commons website for more details of how to share our work, and please send us an email if you use an article.

Was this content helpful?

We want to sustain Latin America’s largest organized crime database, but in order to do so, we need resources.

DONATE

Related Content

ARGENTINA / 4 OCT 2021

Ariel Máximo Cantero, alias “Guille,” is the leader of Argentina's Monos crime family. While he is facing decades behind bars,…

ARGENTINA / 1 FEB 2022

In 2021, most countries in Latin America and the Caribbean experienced a marked increase in murders. Resurgent violence was to…

ARGENTINA / 12 SEP 2022

The consequences of illegal, unreported, and unregulated (IUU) fishing are immediate and enormous across Latin America and the Caribbean.

About InSight Crime

THE ORGANIZATION

Venezuela Coverage Receives Great Reception

27 MAY 2023

Several of InSight Crime’s most recent articles about Venezuela have been well received by regional media. Our article on Venezuela’s colectivos expanding beyond their political role to control access to…

THE ORGANIZATION

InSight Crime's Chemical Precursor Report Continues

19 MAY 2023

For the second week in a row, our investigation into the flow of precursor chemicals for the manufacture of synthetic drugs in Mexico has been cited by multiple regional media…

THE ORGANIZATION

InSight Crime’s Chemical Precursor Report Widely Cited

THE ORGANIZATION / 12 MAY 2023

We are proud to see that our recently published investigation into the supply chain of chemical precursors feeding Mexico’s synthetic drug production has been warmly received.

THE ORGANIZATION

InSight Crime’s Paraguay Election Coverage Draws Attention 

5 MAY 2023

InSight Crime looked at the various anti-organized crime policies proposed by the candidates in Paraguay’s presidential election, which was won on April 30 by Santiago Peña. Our pre-election coverage was cited…

THE ORGANIZATION

InSight Crime Cited in OAS, CARICOM Reports

28 APR 2023

This week, InSight Crime’s work was cited nine times in a new report by the Organization of American States (OAS) titled “The Impact of Organized Crime on Women,…