The Attorney General of Peru stated that $10 Billion in illicit funds was laundered in the country in 2012, double the estimated $5 Billion that was laundered in 2011. The money laundering activity that takes place in Peru accounts for 3.5 percent of the country’s GDP.
One new black market crime that is contributing to the funds is extortion. Gangs in a northern city collected over $900,000 in extortion fees between 2012 and 2013 from 14,000 taxi drivers. The funds were deposited into 150 different bank accounts.
Source: Marguerite Cawley, “Growth of Extortion a Major Concern for Peru: Official,” Insight Crime, October 31, 2013.