Renowned economist designated Colombia’s new finance minister
Truth Commission: Colombia needs radical policy changes to...
Colombia’s controversial moment of truth
At least 49 dead after ‘prison break attempt’...
Colombia’s incoming government begins “total peace” offensive
Colombia investigating bullfighting tragedy
Petro’s first moves to restructure Colombia’s government
Petro and Duque meet over transition of power...
Colombia confronts former FARC chiefs with suffering kidnapping...
Colombia hears former guerrilla chiefs over mass kidnappings
  • About
  • Support
  • Newsletter
  • Contact
Colombia News | Colombia Reports
  • News
    • General
    • Analysis
    • War and peace
    • Elections
    • Economy
    • Culture
    • Sports
    • Science and Tech
  • Travel
    • General
    • Bogota
    • Medellin
    • Cali
    • Cartagena
    • Antioquia
    • Caribbean
    • Pacific
    • Coffee region
    • Amazon
    • Southwest Colombia
    • Northeast Colombia
    • Central Colombia
  • Data
    • Economy
    • Crime and security
    • War and peace
    • Development
    • Cities
    • Regions
    • Provinces
  • Profiles
    • Organized crime
    • Politics
    • Armed conflict
    • Economy
    • Sports
  • Lite
  • Opinion
News

New unit to monitor money from illegal mining

by Hannah Aronowitz April 6, 2011

Colombia news - miner

Colombia’s financial analysis authority UIAF will create a special unit to try and control criminal groups that launder money from illegal mining, Caracol Radio reports.

The Interior and Justice Minister German Vargas Lleras announced the decision Tuesday, highlighting the necessity of the project due to the use of funds from illegal mining in the financing of activities of the FARC and other illegal groups.

According to Vargas, the unit will be “a useful tool in combating the structures of these criminal organizations in every aspect.”

Senator Hernan Andrade Serrano provided his support for the initiative, pointing to the fact that in some areas of the country there are currently no officials from Colombia’s Institute of Geology and Mining (Ingeominas), to monitor mining operations, El Espectador reported.

“Gold is being exploited throughout the country and it coincides with paramilitary zones; Vichada, the south of Bolivar, Santander, Nariño and Choco … the BACRIM [emerging criminal gangs] are business partners and behind the gold … is a lot of financing of illegal activities in Colombia,” he said.

The senator indicated that the consequences of illegal mining, in addition to financing criminal groups, are the potential causes of extensive environmental damage and the loss of money for the state from a potentially highly lucrative sector.

In February this year, the government launched a separate emergency plan to try and control the country’s mines more effectively by enforcing higher levels of security for workers and seeking out and closing illegal mines.

By focusing specifically on the money laundering aspect of illegal mining, the new unit under the UIAF, an agency tasked with detecting money laundering and terrorist financing, will serve as an accompaniment to these existing operations.

German Vargasgoldmining

Trending

  • Petro’s quest for a majority in Colombia’s Congress

  • The peaceful revolution of Colombia’s “nobodies”

  • Colombia hears former guerrilla chiefs over mass kidnappings

Related articles

  • Paramilitary cooperation with truth commission threatens Colombia’s political superpowers

  • Glencore to abandon mining in Colombia amid growing woes

  • FARC admits responsibility for assassination attempts on Colombia’s former VP

  • RSS

@2008-2019 - Colombia Reports. All Rights Reserved.
Powered by Digitale Zaken and Parrolabs


Back To Top