Uruguay Central Bank Investigates Monex Exchange House Over Drug Money

The Uruguay central bank, through its financial intelligence unit, has initiated an investigation into exchange house Cambio Monex over allegations of drug money connections. The probe began on 29 September 2026 after convicted launderer Pablo Leiva alleged that the company's treasurer provided him with orders. Leiva, who also served as a paid aide to a Montevideo city councillor, claimed he was directed by the treasurer to move money from drug transactions into the legal financial system.

According to Montevideo Portal, the treasurer allegedly instructed Leiva via paper orders, which were seized during the police investigation. The financial intelligence unit has sent Monex a questionnaire requesting details about the exchange house's operations, the sums handled, and the treasurer's role. Monex maintains that the employee in question was absent on the day Leiva was arrested and has not been in contact since.

The case stems from Operation Trazador, a drug enforcement operation in Montevideo, which resulted in the seizure of 265 kilos of drugs, primarily cocaine paste and cocaine. The investigation is being conducted alongside a separate criminal case opened by specialized money-laundering prosecutor Enrique Rodríguez.