Mexico News

US Banks Close Branches Along Mexico Border to Prevent Money Laundering

US Banks Close Branches Along Mexico Border to Prevent Money Laundering

Major US banks have recently closed branches along the southern border with Mexico in an attempt to crack down on money laundering, a reflection of the ease with which Mexican drug traffickers can legitimize illicit proceeds north of the border.  Read More

Mexico Profile

Mexico

Mexico

Mexico is home to the hemisphere’s largest, most sophisticated and violent organized criminal gangs. These organizations have drawn from Mexico’s long history of smuggling and its close proximity to the United States, the world’s largest economy, to grow into a regional threat. Their networks stretch from Argentina into Canada and Europe. They traffic in illegal drugs, contraband, arms and humans, and launder their proceeds through regional moneychangers, banks and local economic projects. Their armament, training and tactics have become increasingly sophisticated as the Mexican government has ramped up efforts to combat them, and they have faced increased competition within Mexico. They have penetrated the police and border patrols on nearly every level, in some cases starting with recruits for these units. They play political and social roles in some areas, operating as the de facto security forces.

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