The Cuban Ministry of the Interior (MININT) has intensified its crackdown on informal financial networks, accusing two Cuban expatriates living in the United States and Spain of financing a scheme that allegedly diverts remittances and operates parallel payment systems outside of government control.
As reported by Canal Caribe, officials claim that these individuals are part of an operation that handled hundreds of millions of pesos each week. The regime asserts that this activity poses a direct threat to the nation’s economic stability.
The allegations are part of case file 862 of 2025, initiated in Santa Clara. The Technical Directorate of Investigations claims to have dismantled a network using a system of "illegal financial compensation."
Within this scheme, the so-called "financiers"—one based in the U.S. and the other in Spain—collaborated with non-state business owners to pay foreign suppliers from abroad. Meanwhile, recipients in Cuba received the peso equivalent of their remittances without going through official channels.
The television report detailed how these operators maintained a well-organized structure within Cuba, led by a coordinator who collected the national currency generated by small and medium-sized enterprises (SMEs) and distributed it through an informal chain spanning regions like Sancti Spíritus and Las Tunas.
In these areas, two other individuals were involved in transporting and delivering cash, integrating into new sub-networks dedicated to distributing the remittances.
Authorities highlighted that these operations resulted in "massive enrichment," with commissions ranging from 8 to 12% on each remittance and the final price of goods sold by private vendors on the island.
They emphasized that beneficiaries of these schemes "circumvent the laws" of both Cuba and other countries, and these activities "hinder economic development programs," directly impacting the everyday economy of citizens.
Although MININT stated that this is not a "crackdown on non-state management forms," it warned that the private sector's growth has fostered the emergence of structures operating outside the state bank.
The institution justified the operation by claiming these schemes are "economic warfare strategies imposed by the United States government," confirming that criminal proceedings have been initiated against ten individuals involved, with some held in provisional detention.
This crackdown is not confined to Villa Clara. A separate case, dossier 1021 of 2025, is based in Pinar del Río, where a person managed a private currency exchange operation from home, using informal market rates and assisted by two associates: one responsible for transporting money to remote areas and another who advertised the services on social media.
Another, larger network was uncovered in the 10 de Octubre district of Havana, directly tied to SMEs that required substantial amounts of both national currency and foreign exchange to sustain their operations.
The authorities claim that over a hundred similar investigations are underway nationwide, at a time when the island is grappling with a triple crisis—economic, energy, and health—worsened by Hurricane Melissa.
For MININT, dismantling these networks is crucial to "maintaining order and tranquility," and ensuring that financial flows "serve the social and common interest."
The official narrative insists these structures are responsible for Cuba receiving less than 10% of remittances through state channels.
Critics argue, however, that the proliferation of such networks is a response to the collapse of the banking system, endless delays, and a lack of trust in official mechanisms, forcing thousands of families to seek alternative means.
As the investigation progresses, the regime continues to build a narrative against expatriate "financiers," portraying them as masterminds of a network that "plunders" the remittances sent by emigrants.
However, for many Cubans who rely on these informal channels to survive, the state’s offensive is merely an attempt to regain control over a market that the government lost years ago.
Exploring Cuba's Financial Crackdown and its Implications
What are the accusations against the Cuban expatriates?
They are accused of financing an illegal scheme that diverts remittances and operates payment systems outside of government control.
How do these operations impact Cuba's economy?
The operations allegedly pose a threat to economic stability, hinder development programs, and affect the everyday economy by bypassing official channels.
Why do critics argue against the state's narrative?
Critics believe the growth of informal networks is due to the banking system's failure, persistent delays, and lack of trust in official mechanisms, forcing families to use alternative means.