|The Cuban Convertible Peso (CUC)|
There are a number of inequities that a unified Peso is intended to remedy, including the present inability of most Cuban nationals to afford to shop in the imported goods stores, unless they are receiving remittances from relatives abroad;The CUP has no value abroad; it is used to buy domesticv goods, and to pay salaries. Will a new Peso present opportunities for money launderers to wash drug profits earned in North America ? Read on, please.
|The Cuban Peso (CUP)|
It does not take a vivid imagination to create a scenario : US-earned drug profits, that are easily bulk cash smuggled, by sea, into Cuba, could be washed through the Euro-businesses operating in the Mariel Special Economic Zone, and sent to the EU, as profits earned tax-free in Cuba. The dollars could be exchanged for the new strong Peso in the underground economy, or through confederates posing as tourists, or by street-level foreign exchange brokers. After being declared as profits, the money could be changed into Euros, and repatriated abroad.
|Mariel Special Economic Zone|
Target dates for the new Peso, and for the opening of the Special Economic Zone, have not been set, but we will be watching for indications that dirty money is being directed through this method, when the opportunity presents itself.