After a 9 hour search, an unauthorized money changer in Corozal was shut down last week by a task force comprising of personnel from the police department, FIU, and Belize Tax Services.
It was a well known exchange hub - where those who are headed over the border to Chetumal can make a quick stop to exchange currency. Of course, it also handles much larger transactions. The problem, however, was that Shanti's Tour had no authorization to perform the service. Now, this is kind of a joke, since the dozens of money changers at the border also do not have a license.
Today police told us that locales holding large amount of undeclared funds could be connected to organized crime and even the landing of drug planes.
Chester Williams, COMPOL
"Last week Thursday a joint team of police, FIU, and income tax or Belize Tax services, descended on Shanti's tour in Corozal town where a search was conducted. That search resulted in the discovery of different denominations of money there was a $60,000USD currency another $74,000USD currency, $181,000BZD, 1.6 million pesos, $350 Canadian Dollars, there was I think 122,000 Indian Rupees and a couple hundred 
Quetzal. From the investigation conducted so far it reveals that the proprietors of the store were involved in the exchange of money, Casa de Cambio, without a permit and so income tax confiscated the $74,000USD as that was concealed and they failed to declare it. In respect to the amount of money they will be charged with a Casa de Cambio without a permit and then FIU will be dealing with the FIU related offenses and so the monies are currently in the custody of the police pending the outcome of that investigation but this is a part of our continued efforts with other agencies which include customs, immigration, and FIU or go after those persons who are involved in white colour crime, evading taxes and as well as looking a money laundering offenses. These operations are going to continue as I said with a view to see how we can target those persons as well as those who we believe are involved in the illegal landings of planes across the country."
The proprietor of Shanti's tour is a well known money changer. His business was also searched back in mid-August.
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