All statements are correct regarding aspects of informal economy practices in South America, EXCEPT: In Venezuela, state institutions and the armed forces, promote money laundering from illegal mining Criminal mining has become more lucrative than drug trafficking and contraband. OOOOO The hotspot for contraband in the region is the porous tri-border area (TBA), between Buenos Aires, Bogota, and Iguacu Falls. The rise in the international price of gold boosted illegal mining in many countries in the Amazon Basin. Brazil has lost billions - more than 2% of its GDP each year - from losses due to contraband