Glossary entry (derived from question below)
Spanish term or phrase:
"cueva" financiera
English translation:
under the counter money changer
Added to glossary by
patinba
Jul 1, 2016 20:30
7 yrs ago
9 viewers *
Spanish term
Mexico
Translating full-time since 1998
Native in: English (Variant: British) 
Works in: Spanish to English
\"cueva\" financiera
Spanish to English
Bus/Financial
Finance (general)
Capital flight (Argentine Newspaper Report, for US)
I've found it translated as "financial cave" in quotation marks, but I'm thinking there must be an English term for this. I'm not even entirely sure what the term refers to.
According to this report here, it appears to mean some kind of office (something like the back office of a bureau de change) for receiving clients who want to channel large sums of currency out the country and into tax havens.
http://en.mercopress.com/2015/06/08/argentine-financial-watc...
Context:
"El juez Osvaldo Rappa procesó ayer a 20 ejecutivos de la entidad por operar una "cueva" financiera en el barrio porteño de Catalinas dedicada a la fuga de capitales y ordenó embargarlos por una cifra récord: más de $ 12.000 millones."
http://www.lanacion.com.ar/1914291-procesan-y-embargan-por-1...
Thanks in advance.
According to this report here, it appears to mean some kind of office (something like the back office of a bureau de change) for receiving clients who want to channel large sums of currency out the country and into tax havens.
http://en.mercopress.com/2015/06/08/argentine-financial-watc...
Context:
"El juez Osvaldo Rappa procesó ayer a 20 ejecutivos de la entidad por operar una "cueva" financiera en el barrio porteño de Catalinas dedicada a la fuga de capitales y ordenó embargarlos por una cifra récord: más de $ 12.000 millones."
http://www.lanacion.com.ar/1914291-procesan-y-embargan-por-1...
Thanks in advance.
Proposed translations
(English)
References
| Refs. |
Taña Dalglish
|
Change log
Jul 6, 2016 11:58: patinba Created KOG entry
Proposed translations
+1
15 hrs
Selected
under the counter money changer
another option
Money changer: The lion's share of foreign currency is exchanged ...
english.gordonua.com › ... › News › Exclusive Comments & Analysis
Jan 21, 2015 - The money changer Alexey (name changed) said in an interview to the ... foreign currency is exchanged under the counter at exchange offices.
.
Crackdown frightens money changers - Myanmar Times
www.mmtimes.com/.../15075-crackdown-frightens-money-chan...
The Myanmar Times
Jun 17, 2015 - The BSI arrested them under section 5(h) of the Emergency Provisions ... that some official money changers are trading under the counter, but ...
Money changer: The lion's share of foreign currency is exchanged ...
english.gordonua.com › ... › News › Exclusive Comments & Analysis
Jan 21, 2015 - The money changer Alexey (name changed) said in an interview to the ... foreign currency is exchanged under the counter at exchange offices.
.
Crackdown frightens money changers - Myanmar Times
www.mmtimes.com/.../15075-crackdown-frightens-money-chan...
The Myanmar Times
Jun 17, 2015 - The BSI arrested them under section 5(h) of the Emergency Provisions ... that some official money changers are trading under the counter, but ...
4 KudoZ points awarded for this answer.
Comment: "Some very useful answers here, and I had to go with another option as the deadline was tight, but I think "under the counter" is the kind of term I was looking for. It's suited to financial double dealing and is a good contrast with "OTC"."
+1
41 mins
("cave") money laundering front
We found out that the little Mexican restaurant that never seemed to have any customers was actually a money laundering front for the Mafia.
Read more: http://www.businessdictionary.com/definition/money-launderin...
Read more: http://www.businessdictionary.com/definition/money-launderin...
Note from asker:
| Thanks, Marina! |
+2
53 mins
David Hollywood
Native in English
Works in field
worked for int. orgs (IMF, OAS, IDB)
Native in: English
Works in: Spanish to English, German to English
Related KudoZ points
:
842
hole in the wall (for illicit money changing) or: laundering
I would suggest
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Note added at 55 mins (2016-07-01 21:25:53 GMT)
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figurative of course but that's what it is
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Note added at 58 mins (2016-07-01 21:29:06 GMT)
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depends how free you can be with your rendering but that's exactly what it is
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Note added at 1 hr (2016-07-01 21:32:38 GMT)
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and especially in Argentina
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Note added at 1 hr (2016-07-01 21:40:48 GMT)
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illicit financial office
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Note added at 1 hr (2016-07-01 21:42:45 GMT)
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secretive and efficient
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Note added at 1 hr (2016-07-01 21:43:15 GMT)
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is that sad or what?
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Note added at 1 hr (2016-07-01 21:44:15 GMT)
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way the world turns sadly
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Note added at 55 mins (2016-07-01 21:25:53 GMT)
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figurative of course but that's what it is
--------------------------------------------------
Note added at 58 mins (2016-07-01 21:29:06 GMT)
--------------------------------------------------
depends how free you can be with your rendering but that's exactly what it is
--------------------------------------------------
Note added at 1 hr (2016-07-01 21:32:38 GMT)
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and especially in Argentina
--------------------------------------------------
Note added at 1 hr (2016-07-01 21:40:48 GMT)
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illicit financial office
--------------------------------------------------
Note added at 1 hr (2016-07-01 21:42:45 GMT)
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secretive and efficient
--------------------------------------------------
Note added at 1 hr (2016-07-01 21:43:15 GMT)
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is that sad or what?
--------------------------------------------------
Note added at 1 hr (2016-07-01 21:44:15 GMT)
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way the world turns sadly
Note from asker:
| Thanks, David! |
Peer comment(s):
| agree |
philgoddard
: Good idea.
16 mins
|
|
thanks Phil
|
|
| agree |
Jean Shearer
21 mins
|
|
thanks Jean
|
|
| neutral |
Mary Gardner Hume
: yes it is sad...
47 mins
|
|
indeed it is and thanks
|
+1
1 hr
Francois Boye
United States
United States
Specializes in field
United States
An economic geek with social skills
Native in: French
Works in: English to French, French to English, Spanish to English, and 1 more.
Related KudoZ points
:
335
illegal/black market financial intermediary
Note from asker:
| Thanks, Francois! |
Peer comment(s):
| agree |
Mary Gardner Hume
: This is what I have used when describing these circumstances to corporate headquarters when I was a General Manager in Argentina.
19 mins
|
|
Thanks very much!
|
3 hrs
Ana Vozone
Specializes in field
Will do!
Native in: Portuguese (Variant: European/Portugal)
Works in: English to Portuguese, French to Portuguese, German to Portuguese, and 1 more.
Related KudoZ points
:
113
money laundering facade/façade
Another suggestion.
Example sentence:
Her foundation is nothing more than a money laundering facade. She should be under indictment, possibly facing ...
Feb 28, 2011 - Roadside assistance organisation Green Flag is actually a money laundering facade maintained by ...
Note from asker:
| Thanks, Ana! |
11 hrs
(BrE) thieves' bung-advisory "den"
Den being the 'cave' element.
A treasure trove for speculators of the 'Dennis the Menace' ilk, but pref. not a 'bunghole' doubling as an 'a...hole'.
A treasure trove for speculators of the 'Dennis the Menace' ilk, but pref. not a 'bunghole' doubling as an 'a...hole'.
Example sentence:
Treasure trove is an amount of money or coin, gold, silver, plate, or bullion found hidden underground or in places such as cellars or attics.
Peer comment(s):
| neutral |
AllegroTrans
: I fail to see anyconnection with treasure trove, this is about criminal activities
1 day 12 hrs
|
Reference comments
30 mins
Taña Dalglish
Jamaica
Jamaica
Native in English
Works in field
Jamaica
Translating the Ideas Behind the Words
Native in: English (Variant: British)
Works in: Spanish to English, English to Spanish, French to English, and 2 more.
Related KudoZ points
:
258
Reference:
Refs.
http://www.taringa.net/posts/noticias/1246474/Detectan-cueva...
Detectan "cueva" financiera en un banco francés - Taringa!
May 22, 2008 - JE FUGUÉ LA GUITTE Detectan "cueva" financiera en un banco francés.
Un papelito con números de cuenta anotados a mano, encontrado sobre el escritorio de Rubén Romano, un polémico ex contratista del PAMI, fue el comienzo de una investigación judicial que descubrió una millonaria “cueva” VIP en donde miles de argentinos, con ahorros difíciles de blanquear, colocan sus dólares y logran transferirlos al exterior sin dejar rastros de la operación. La metodología no sería una sorpresa si no fuera porque se trata de una sucursal no registrada del BNP Paribas, el banco oficial de la ciudad de París con sucursales en 85 países del mundo.
ARGENTINE UPDATE | ARGENTINA SALVAJIZADA | Página 30
https://argentinasalvajizada.wordpress.com/category/argentin...
Dec 1, 2012 - Descubren en Puerto Madero una “cueva” que lavó unos $ 200 millones ..... “Estamos haciendo una cuidadosa planificación financiera para seguir operando. ..... sobre computadoras del ex gerenciador del PAMI Rubén Darío Romano, ..... The United States government, third-party financial institutions ...
Getting inside Argentina's money trading 'caves' - FT.com
www.ft.com › Markets › Currencies
May 31, 2011 - Hernán (not his real name) sits behind a desk in his stark, windowless office – one of thousands of “caves” operating in the heart of the financial ...
Argentina's Underground Currency Traders Face Tougher Penalties
https://panampost.com/.../tougher-penalties-on-the-way-for-a...
Oct 1, 2014 - Argentina's Underground Currency Traders Face Tougher Penalties ... security forces to conduct raids on black-market exchange “caves,” without a request from ... Cuevas en la mira: reforma penal para combatir al dólar blue ...
Argentina Press Clips – Dec 18, 2015 | ARGENTINA SALVAJIZADA
https://argentinasalvajizada.wordpress.com/2015/.../argentin...
Dec 17, 2015 - By getting rid of currency controls — Argentina for the past four years had ... millions of dollars in illegal exchange houses called “cuevas,” or “caves. ..... Grupo Financiero Galicia SA and food maker Molinos Rio de la Plata SA.
ARGENTINA SALVAJIZADA | Argentina es recuperable | Página 108
https://argentinasalvajizada.wordpress.com/page/108/?like=1.... - Translate this page
Feb 17, 2014 - Argentina es recuperable (por Germán Rafael Pirán) ... Sin moneda, sistema financiero sensato que aliente el ahorro y crédito ..... go to a cueva, or “cave”, an office that acts as a front for a thriving illegal ... Few other ways of making money are this good. ... The second theory stresses the role of trade policy
A century of decline | The Economist
www.economist.com/.../21596582-one-hundred-years-ago-argent...
Feb 15, 2014 - ... they go to a cueva, or “cave”, an office that acts as a front for a thriving illegal exchange market. In one cueva near Florida Street, a pedestrian ...
Here are a couple of options for "cueva" financiera: 1) money trading "caves"; 2) black-market exchange "caves·; 3) illegal exchange houses called "cuevas"; 4) cueva, or “cave”, an office that acts as a front for a thriving illegal exchange market.
HTH!
Detectan "cueva" financiera en un banco francés - Taringa!
May 22, 2008 - JE FUGUÉ LA GUITTE Detectan "cueva" financiera en un banco francés.
Un papelito con números de cuenta anotados a mano, encontrado sobre el escritorio de Rubén Romano, un polémico ex contratista del PAMI, fue el comienzo de una investigación judicial que descubrió una millonaria “cueva” VIP en donde miles de argentinos, con ahorros difíciles de blanquear, colocan sus dólares y logran transferirlos al exterior sin dejar rastros de la operación. La metodología no sería una sorpresa si no fuera porque se trata de una sucursal no registrada del BNP Paribas, el banco oficial de la ciudad de París con sucursales en 85 países del mundo.
ARGENTINE UPDATE | ARGENTINA SALVAJIZADA | Página 30
https://argentinasalvajizada.wordpress.com/category/argentin...
Dec 1, 2012 - Descubren en Puerto Madero una “cueva” que lavó unos $ 200 millones ..... “Estamos haciendo una cuidadosa planificación financiera para seguir operando. ..... sobre computadoras del ex gerenciador del PAMI Rubén Darío Romano, ..... The United States government, third-party financial institutions ...
Getting inside Argentina's money trading 'caves' - FT.com
www.ft.com › Markets › Currencies
May 31, 2011 - Hernán (not his real name) sits behind a desk in his stark, windowless office – one of thousands of “caves” operating in the heart of the financial ...
Argentina's Underground Currency Traders Face Tougher Penalties
https://panampost.com/.../tougher-penalties-on-the-way-for-a...
Oct 1, 2014 - Argentina's Underground Currency Traders Face Tougher Penalties ... security forces to conduct raids on black-market exchange “caves,” without a request from ... Cuevas en la mira: reforma penal para combatir al dólar blue ...
Argentina Press Clips – Dec 18, 2015 | ARGENTINA SALVAJIZADA
https://argentinasalvajizada.wordpress.com/2015/.../argentin...
Dec 17, 2015 - By getting rid of currency controls — Argentina for the past four years had ... millions of dollars in illegal exchange houses called “cuevas,” or “caves. ..... Grupo Financiero Galicia SA and food maker Molinos Rio de la Plata SA.
ARGENTINA SALVAJIZADA | Argentina es recuperable | Página 108
https://argentinasalvajizada.wordpress.com/page/108/?like=1.... - Translate this page
Feb 17, 2014 - Argentina es recuperable (por Germán Rafael Pirán) ... Sin moneda, sistema financiero sensato que aliente el ahorro y crédito ..... go to a cueva, or “cave”, an office that acts as a front for a thriving illegal ... Few other ways of making money are this good. ... The second theory stresses the role of trade policy
A century of decline | The Economist
www.economist.com/.../21596582-one-hundred-years-ago-argent...
Feb 15, 2014 - ... they go to a cueva, or “cave”, an office that acts as a front for a thriving illegal exchange market. In one cueva near Florida Street, a pedestrian ...
Here are a couple of options for "cueva" financiera: 1) money trading "caves"; 2) black-market exchange "caves·; 3) illegal exchange houses called "cuevas"; 4) cueva, or “cave”, an office that acts as a front for a thriving illegal exchange market.
HTH!
Note from asker:
| Thanks, Taña, very helpful of you, have a great weekend! |
Discussion
Cuevas se empezó a utilizar hace unos años (cuando teníamos el dólar oficial, el dólar blue y el dólar negro) para hacer referencia a casas de cambio no oficiales (es decir, ilegales). Ahora se utiliza para hacer referencia a consultoras financieras que, tras una fachada legal, lavan dinero para sus clientes. La más famous & infamous es "La Rosadita". Por lo que he visto en textos en inglés (p. ej. The Telegraph), se deja la palabra en español y luego se explica el significado. Se me ocurre "money laundering front company".
- Buenos Aires El Cronista reports on 9 August that the case investigating
BNP Paribas Bank directors for alleged money laundering through a
"financial cave," in which government officials, diplomats, members of the
Judicial Branch, and trade unionists may have been involved, has been left
without a judge.
https://wikileaks.org/gifiles/docs/26/2621986_argentina-amer...