Money laundry and hybrid scenario in Venezuela
Corruption in Venezuela is described by international watchdogs as endemic and on an industrial scale, severely worsening during the Chávez and Maduro regimes. Venezuela consistently ranks as one of the most corrupt countries globally. Widespread Corruption Systemic Mismanagement: Corruption permeates key state-owned enterprises, most notably Petróleos de Venezuela, S.A. (PDVSA), which controls the country's main source of revenue, oil. Schemes often involve bribes for contracts, bid rigging, and the siphoning off of billions of dollars. Currency Manipulation: The state's control over the highly regulated foreign exchange market has created vast opportunities for fraud and kickbacks. Officials and connected businessmen—known as bolichicos or boliburguesía—have allegedly profited immensely by obtaining dollars at the artificially low official exchange rate and selling them at the much higher black-market rate. Scale of Theft: Investigations in various countries have implicated V...