ARGENTINA: Cash sniffing dogs deployed to control flight of dollars out of country as travellers head out for summer vacation

Record ID: 446771

  • Title: ARGENTINA: Cash sniffing dogs deployed to control flight of dollars out of country as travellers head out for summer vacation
  • Date: 20th December 2011
  • Summary: BUENOS AIRES, ARGENTINA (FILE) (REUTERS) GENERAL VIEW OF DOWNTOWN EXTERIOR OF TAX AGENCY POLICE OUTSIDE CURRENCY EXCHANGE HOUSE MAN CLOSING CURRENCY EXCHANGE HOUSE SIGN SAYING SALES OF DOLLARS SUSPENDED VARIOUS OF CLOSED CURRENCY EXCHANGE HOUSE
  • Embargoed: 4th January 2012 12:00
  • Keywords:
  • Location: Argentina, Argentina
  • Country: Argentina
  • Topics: Crime
  • Reuters ID: LVAEF1ZDFGY8Q5PFW9EBEFWKY1VR
  • Story Text: The Argentine government sent sniffer dogs trained to detect dollars and euros to work along Argentina's border crossings in a bid to curb capital flight.
    The government has been cracking down on dollars and euros leaving the country as businesses and citizens speculate on a devaluation of the peso.
    These dogs are now part of the fight to keep foreign currencies in the country. They were working on Monday (December 19) at the ferry terminal where boats leave to Uruguay, where many Argentina summer at beach resorts.
    According to local news sources, last week the dogs found a around $30,000 in the tyre of luxury sports car headed for the neighbouring nation.
    Customs director Maria Siomara Ayaran said the dogs will be at several border points, including entries to Paraguay and Bolivia.
    "After many years, we now have around 300 dogs, 50 of which are trained especially to detect foreign currencies, specifically dollars and euros. What we are seeing here is part of customs controls carried at different border points," she said.
    Siomara added officials have no knowledge of these kinds of dogs existing elsewhere and they are exporting the practice.
    "The truth is that Argentina is a leader in training dogs to detect currencies. In fact, we are exporting this practice that the Argentine customs has developed to other countries in the Americas and to Africa," she said.
    According to officials, the dogs have been trained over the years to detect the ink in the bills, and won't react unless the amount is over $1000.
    They ran a test Monday by placing a bag of shredded U.S. currency in a vehicle. The dogs, golden retrievers and Labradors, sit down when they find currency.
    The outflows of currency, which are also referred to as capital flight or portfolio dollarization, include money sent abroad as well as dollars that are purchased and deposited in Argentine banks or stuffed under mattresses in Argentine homes.
    The government has limited sales of dollars, temporarily closing down currency exchange houses in Buenos Aires.
    The new foreign exchange controls -- which require the tax agency preapprove all foreign currency purchases -- initially set off increased withdrawals of dollar deposits and did little to ease dollar demand.
    From January through September, capital outflows totalled $18.25 billion, well above the $11.41 billion total seen in full-year 2010.
  • Copyright Holder: FILE REUTERS (CAN SELL)
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