Belize, Drugs and Money Laundering

Belize, located on the coast of Central America, is known in the global arena for attracting many North American drug trafficking entities. As the Belize currency is pegged to the U.S. dollar this entices drug traffickers and money launderers who want to utilise their current economic system. 

As Belize offers nonresidents the ability to establish offshore accounts many drug traffickers utilise Belize as a money laundering banking entity. As a result, the United States Department of State has recently named Belize one of the world’s major money laundering countries.