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To Stem Money Laundering, Mexico Must Address Trade Finance, Casas de Cambio
By Colby Adams
printRevisions to Mexico's anti-money laundering strategy promised earlier this month must account for regulatory-gaps in trade-based money laundering, the continuing problem of casas de cambio and the legitimate use of U.S. dollars in Mexico, say former law enforcement officials and compliance professionals. With public outcries against drug-related violence reaching a fever pitch, President Felipe Calderon opened the door to revising his drug war strategy-including introducing new anti-money laundering measures-at an August 10 security meeting with government officials and political opponents in Mexico City. Discussions will continue "later this week," The New York Times reported Wednesday. Drug traffickers smuggle $18 billion...
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