World Economy

Argentina Targets Dirty Money

Argentina Targets Dirty MoneyArgentina Targets Dirty Money

Tax officials have raided more than 70 financial organizations across Argentina, in what they say is an operation targeting money-laundering. Agents targeted banks, currency exchange shops and other institutions in Buenos Aires and various provinces, BBC reported. Officials accused them of tax avoidance and of facilitating capital flight out of the country. Earlier this month, Argentina temporarily suspended the operations of Procter and Gamble, alleging tax fraud. Argentina has been controlling access to foreign currency to try to maintain its falling central bank reserves. The country is facing a raft of economic problems including high inflation at around 40% and a row with US creditors.