Venezuela Authorizes Exchange Offices To Curb Money Mafias


Venezuela’s Vice-President Tareck El Aissami has authorized three exchange offices to deal with remittances in a bid to curb the money mafias that change currencies to "criminal rates."

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During a press conference on Friday, El Aissami confirmed that Italcambio, Grupo Zoom and Insular are now authorized by the government to receive remittances in Venezuela, according to

"These are the three operators legally authorized for this type of transaction; they have a total of 124 agencies nationwide," El Aissami said. 

"They are already linked with international operators and have made alliances with global companies. 

"We inform all the people of Venezuela so that they do not fall into the hands of those currency mafias that impose criminal fees and rob us."

The new measures were announced partly in response to the ongoing Manos de Papel (‘Paper Hands’) operation, which targets currency smugglers and the imposition of exaggerated rates of the parallel dollar. So far, 216 people have been arrested.

El Aissami reiterated that "the currency mafias" have their epicenter in Cucuta, noting that "the government of Colombia does nothing to stop this situation."


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