Belgium’s Drug Trade: $32 Billion Industry Largely Evades Justice System

"According to the most optimistic estimates, only 10% of the imports would be intercepted, which brings the total annual turnover of cocaine transiting through Belgium to the astronomical sum of 30 billion euros. Even if this is only a rough estimate, these figures are indicative of the importance of money laundering activities related to drug trafficking," states the annual report of the financial information processing unit, also known as the anti-money laundering unit.

However, the files transmitted to the Belgian justice system by the anti-money laundering unit only mention 11.51 million euros from drug trafficking, spread over 127 files, reports L’Écho. What could explain this situation? According to the anti-money laundering unit, drug money can be hidden in other files, particularly those related to social or tax fraud.

"For example, we have identified 151 million euros in ’organized crime’ cases. The sums detected from drug trafficking would come more from small dealers than from the top of criminal organizations," it is explained. This is only a minor reason, as the main reason lies in the fact that these billions of euros are laundered through various channels.

These include cryptocurrencies and new payment methods; cash transport; shell companies active in cash-intensive sectors; transfers to the United Arab Emirates, Morocco and Turkey, then invested in real estate -through many detours- in Belgium or abroad; various constructions to drown dirty money among ordinary (international) commercial transactions; gambling..., it is specified.

As a result, these funds escape the vigilance of anti-money laundering detection systems.