The Cuban Ministry of the Interior (MININT) has launched an offensive against illegal currency exchange operations, currently investigating over 300 cases. Recent operations have resulted in the seizure of hundreds of thousands of dollars, euros, Cuban pesos, vehicles, safes, bank cards, electronic equipment, and other assets.
Crackdown on Illicit Financial Networks
According to reports from Canal Caribe, illegal structures organized from abroad with support within Cuba continue to operate in currency exchange and remittance activities. These operations are also linked to money laundering and tax evasion.
The investigations are being led by Havana Provincial Prosecutor Eudenia Sanmiguel Ramírez and Lieutenant Colonel Gisnel Rivero Crespo, head of the Economic Crimes Department of the MININT’s Criminal Investigation Directorate. MININT’s strategy focuses on gathering operational intelligence, infiltrating criminal networks, identifying key players, and dismantling these organizations.
Despite state measures, officials acknowledge that millions of pesos and dollars continue to circulate in Cuba’s informal currency market. One significant case involves a network operating out of two residences in Luyanó, Havana, dedicated to illegal currency trafficking and remittance delivery.
Authorities seized 183,278 dollars, 15,560 euros, 1,500,900 Cuban pesos, two 2025 Kia Picanto cars, five safes, three money counting machines, 12 bank cards, three cell phones, a laptop, and documentation related to five other properties during that operation.
Expanding Investigations
Further investigations have uncovered a criminal structure operating systematically from two residences in Plaza de la Revolución, with a third location in the Cerro municipality. This resulted in the seizure of 17,210 dollars, 13,475 euros, 2,199,650 Cuban pesos, two electric motorcycles, two laptops connected to a video surveillance system, three cell phones, a money counting machine, and seven magnetic cards with a total balance exceeding 300,000 pesos.
Those involved, according to official reports, have confessed to participating in illegal currency trafficking.
Authorities are also investigating individuals with “millionaire” bank movements, including one person with credits exceeding 36 million Cuban pesos and debits exceeding 35 million. This individual is alleged to be part of a network operating from El Vedado, Havana, and involving another person in Mariel, Artemisa, engaging in cash exchange, transactions with MLC and CUP, and cryptocurrency operations.
This individual was reportedly a partner in a micro, small, and medium-sized enterprise (mipyme) in Artemisa since 2022 and re-registered as a self-employed worker in October 2025 to provide beverage services. They had previously been subject to tax control and fined 1,637,086 pesos for tax violations.
Broader Context
The MININT maintains that the illegal currency market involves financiers based abroad, remitters, traffickers operating in physical and virtual spaces, individuals involved in cross-border cash extraction, and operators of simulated international recharges. These financiers reportedly charge interest rates between 6% and 12% and contribute to speculation, cost distortion, and devaluation of the national currency.
The official discourse attributes some of the economic context to the “unprecedented policy of economic, financial, and energy strangulation” by the United States. It also acknowledges that the official exchange rate, updated on December 17, 2025, by the Central Bank of Cuba, is not yet functioning as needed by the country’s economy.
Frequently Asked Questions
What is the MININT doing about illegal currency exchange?
The MININT has launched an offensive against structures dedicated to the illegal buying and selling of currency, with over 300 investigations underway and numerous operations resulting in the seizure of assets.
Where are these illegal currency operations taking place?
Operations have been identified in Villa Clara, Sancti Spíritus, Las Tunas, Pinar del Río, and Havana.
What types of assets have been seized?
Seized assets include hundreds of thousands of dollars and euros, Cuban pesos, vehicles, safes, bank cards, electronic equipment, and documentation related to properties.
As the Cuban government continues its efforts to control the flow of currency, it remains to be seen how these investigations will impact the informal market and the broader economic landscape.
