American seizures of cash bound for the Mexican border are on track to reach their lowest annual total in the last six years, federal statistics show. U.S. Customs and Border Patrol agents seized $9.1 million in outbound currency by the end of the third quarter of fiscal 2015, according to data obtained by ACAMS moneylaundering.com. Should the rate and size of seizures remain steady through the end of the fiscal period, the agency's annual collection would fall short of the $15.2 million seized the previous year. The projected yearly total of approximately $12.1 million would be a 62 percent drop...
U.S. law enforcement officials are increasingly focusing their attention on the use by Mexican drug cartels of shell companies and corporate bank accounts in China and Hong Kong to launder proceeds from narcotics sales, sources told ACAMS moneylaundering.com.
Domestic banks and U.S.-headquartered affiliates in Mexico have increased their supply of know-your-customer and transactional information to institutions in the United States under a bilateral agreement finalized last year, say sources.
Companies linked to an ongoing trade-based money laundering operation in the Los Angeles fashion district are willing to break the law again, provided their payouts are more effectively disguised, an investigator said Tuesday.
Mexico's partial reversal of 2010 limits on U.S. dollar deposits will make it easier for narcotics traffickers to launder drug proceeds through Mexican banks, according to current and former investigators.
The U.S. Treasury Department said Friday that, in response to law enforcement concerns, armored car services and other couriers transporting cash between Tijuana, Mexico and San Diego, California must comply with enhanced border declaration requirements.