Argentina appeals to sniffer dogs to detect capital flight at border crossings
Argentina attempt to control capital flight through strict foreign exchange measures including the tax revenue office which gives its approval or denial to foreign money transactions have added another tool: sniffer dogs.
A hundred specially-trained dogs have been deployed to several border-crossing outposts throughout Argentina in order to sniff out dollars concealed in luggage, cars on adhered to the body.
The move put in place by the government of President Cristina Fernandez is described as another effort to stop a massive currency flight from the country. Argentina is trying to stop the local savers and investors who last month withdrew over 3 billion dollars from their bank accounts from taking their money abroad.
Last Monday, trained dogs detected 30,000 dollars concealed inside the spare tire of a BMW as its driver prepared to cross over to Uruguay, the Buenos Aires media reported.
The measure, which will be intensified during the summer months, was put into place in June and was given a trial period of six months, during which 1.5 million undeclared dollars were detected by dogs.
The Border Patrol will be paying special attention to border crossings with Uruguay, Paraguay and Bolivia. Tens of thousands of Argentines cross over in summer to enjoy beaches in Uruguay where they have billions of dollars in bank deposits and real estate investments.
The Golden Retrievers and Labradors are specially-trained to identify the smell of dollars and Euros.
The Argentine government announced that the current doggy generation will soon be joined by a several flat coated retrievers that the AFIP tax agency bought from the Norwegian government and sent to the south in order for them to breed.
In the third quarter of this year according to Central bank data, 8.4billion dollars left Argentina, which is higher than the 6.1billion of the second quarter. The same data shows that capital flight in the first ten months of 2011 totalled 18 billion dollars.
Capital flight has been spurred by the Argentine election year, manipulated inflation data and expectations about economic policy, besides the fact that an overvalued currency has caused a consumer boom.
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30 comments Feed
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A charming characteristic of that special breed….
Problem is …… they don’t retrieve… they spend :-(
Between control of the newsprint, currency and land acquisition democracy is dying in Argentina...if it ever really existed.
You can't have a functioning democracy when the population is dumb and corrupt. I think the country functioned better under a dictatorship anyway.
It will be interesting to see what happens when its hot and people are back from vacation in Feb.
On the day that the Dear Leader of preventing individual liberty snuffed it perhaps you can explain why your county want to curtail people's individual freedoms?
Think, BTW, did you give up the subsidies already? :-)
your argument is valid for all other countries too ...!
Try to read the article above!…….. It says:
”The measure was put into place in June and was given a trial period of six months, during which 1.5 million undeclared dollars were detected…. ”
As you can read; we are talking about “UNDECLARED DOLLARS”
What are the Argentinean Currency Export Regulations?:
”The exportation of foreign bills and coins and precious metals for amounts higher than US$ 10,000.- (TEN THOUSAND AMERICAN DOLLARS) or its equivalent in other currencies is prohibited, UNLESS through FINANCING AND FOREIGN EXCHANGE ENTITIES duly authorized……”
www.afip.gob.ar/english/touristInformation.asp#g
WoooooooW……. What a bunch of comunists !!!
But …… Wait a second……
What are the European Union Currency Export Regulations?:
”The regulation places an obligation on any person entering or leaving the EU and carrying cash of a value of EUR 10 000 or more to declare that sum to the competent authorities.
The declaration is provided in writing, orally or electronically, to be determined by the EU country, and must contain information on:
• the declarant, including full name, date and place of birth and nationality
• the owner and the amount and nature of the cash
• the intended recipient of the cash
• the provenance and intended use of the cash”
europa.eu/legislation_summaries/customs/l25069_en.htm
And what are the US Currency Export regulations?:
local currency (United States Dollar-USD) and foreign currencies: no restrictions, provided that arriving and departing passengers must report to US customs any money or other monetary instruments exceeding USD 10,000………….
www.iatatravelcentre.com/US-United-States-of-America-customs-currency-airport-tax-regulations-details.htm
So... What’s your freakin’ problem?
Same rules all over the civilized world!
PS:
Firewood is not subsidized in Patagonia and my electricity comes from photovoltaic panels.
who in the hell is going to declare money when you are trying to get it out of the country? who is going to be “the patriot” ??
No Air Condition.
No Dishwasher.
No Dryer.
No 60´´ TV.
No Microwave.
No Ice Machine.
No even an Iron.
2) Nothing to do with “patriotism”. In Argentina, if you have earned your money legally and if you have paid the due taxes, you are free to send all of it anywhere you choose…
But a lake nearby I have...
And a Ñuke.
So... What’s your freakin’ problem?
Same rules all over the civilized world!
--The problem is the EU and USA won't steal your money if you declare it. Argentina will. I know of a few people who fell into this trap. Honest people who worked hard for their money only to have customs quote the law and take everything. Since they also make it almost impossible to transfer money via a bank account what other option is there?
@post # 15, re US Currency Export Regulations.
l went through US customs with $9,000 cash in a side pocket.
Nobody batted an eyelash.
The problem is the EU and USA won't steal your money if you declare it..... My point exactly !!!
@23 Depends where you come from. A friend of mine came to visit last year with 8k in cash and he end up with a rectal exam. True story
lt was a few years ago, 2007.
l was leaving the USA. Going back to lndonesia.
$9000 in my pocket & $5000 in my bag.
We had been buying spare parts for the coffee plantation.
I think the final word in this little ditty is PUKE.
Probably you are blonde with blue eyes ? ;-))
Yes,
Opens many doors
An unfair advantage
ln the Philippines, treated like a God/Goddess(dependent on gender of course!)
Stereotyping people is wrong but stiil happens.
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