Tuesday, February 5, 2013


There are persistent accounts of increased capital flight out of Venezuela, believed to be driven by fears of a post-Chávez crackdown. Three senior officers of the Banco Central (Central Bank of Venezuela) are said to be personally managing and directing the flood, taking advantage of the confusion, and jockeying for power of the three competing groups, the pro-Cuba faction, the independent faction, and the military, to loot government accounts and stored cash funds. They are acting on orders from those in command, to move funds overseas.

(1) Look for any unusually large funds transfers, especially in US Dollars, and possibly in bulk cash, coming from Venezuela.

(2)The transfers may appear to be the property of large corporations, when in truth and in fact, they are coming from prominent PEPs.

(3) Remember to check the names on wire transfers for government-controlled corporations.

(4) If the transfer purports to be payment for goods or services, verify the story.

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