Money laundering in Ecuador and its impact on tax, corporate and commercial regulations

Abstract

The main objective of this study was to design a critical-legal analysis document on money laundering in Ecuadorian legislation and its impact on the Ecuadorian commercial, corporate and tax legal framework. The methodology was qualitative in nature through a documentary analysis based on the examination of current legislation, reports issued by government agencies and non-governmental organizations, academic publications and other relevant materials. The results indicate how money laundering not only affects the economic and financial stability of Ecuador, but also negatively impacts the social and business development of the country. The evolution of the legal framework, reflected in the adaptation of the Comprehensive Criminal Organic Code (COIP) and other relevant legislation, shows a commitment on the part of the Ecuadorian State to align itself with international standards and address this challenge in a comprehensive manner. It concludes on the importance of effective international cooperation and the implementation of advanced technologies to improve the ability to detect and prevent money laundering activities. Furthermore, the need for active and conscious participation by Ecuadorian society is recognized to counteract this phenomenon, promoting transparency and integrity in the financial system and in the business environment.

Keywords: money laundering, regulations, COIP, cooperation, legislation.