Federal investigators believe that sales of synthetic cannabinoid products could have links to terrorist financing and criminal syndicates, according to a DEA assistant special agent in charge.
The U.S. Treasury Department is readying a program to share intelligence from law enforcement agencies with the banks charged with identifying suspicious transactions, an official said Thursday.
Mexican officials will extend until February an upcoming deadline for nonbank companies to implement anti-money laundering controls, according to sources with knowledge of the matter.
An agreement formalizing cooperation between a Mexican financial regulator and a U.S. overseer of money services businesses and banks is likely to result in more enforcement actions in both countries.
Bank compliance staff should better scrutinize clients tied to Central America and Mexico's cattle industry following a spate of related U.S. sanctions, say current and former officials.
Plans to attract foreign capital and expertise to Mexico's oil sector could give organized crime groups and corrupt officials an opportunity to layer and integrate dirty money, say industry analysts.
A measure that will impose anti-money laundering program requirements on a broad range of non-bank businesses and professions in Mexico will take effect next month, according to a notice published Friday in the country's official journal.
A list of alleged Mexican drug traffickers could aid anti-money laundering departments in identifying suspicious transactions, say compliance officers.
U.S. lawmakers may need to earmark more money for Mexico's financial intelligence unit as part of a $1.9 billion aid package intended to help fight drug trafficking, a federal official said Thursday.
The U.S. government's landmark case against HSBC Holdings Plc for knowingly turning a blind eye to financial crime is seemingly fated to end much as it began: complex and messy.
Changes to the final version of Mexico's new anti-money laundering law leave important gaps in the nation's compliance regime, and may elicit criticism from an intergovernmental policymaker, say analysts.
When Mexico's President Felipe Calderon relinquishes power in December to his successor, he'll leave behind a decidedly mixed legacy in the fight against the country's drug cartels. But U.S. law enforcement agents and other officials worry that Mexico's next leader could do worse, sources say.
Mexican cartel members are exploiting mirror accounts in the United States and Mexico to launder money and evade U.S. dollar deposit restrictions, financial regulators said Thursday.
Mexico has lost as much $91 billion per year to capital flight associated with tax evasion and corruption during the last decade, according to a report by an American advocacy group.
Narcocorrido balladeers can profit by praising crime in their songs without living the lifestyle. But they can also have direct links to Mexican drug cartels, including by helping to launder dirty money.
American officials are investigating whether banks accepting cash declared by individuals entering the United States from Mexico are filing regulatory reports with the U.S. Treasury Department, say compliance professionals.
A broad anti-money laundering measure that would create and strengthen criminal penalties and impose reporting requirements on non-bank institutions in Mexico is likely to pass into law this month, say former government officials.
Thousands of lightly regulated currency exchange centers in Mexico are suspected of laundering criminal proceeds for drug trafficking organizations, according to analysts and former Mexican government officials.
Mexican drug traffickers are likely laundering some of their profits in the country's casinos and nightclubs, as well as in campaign funds for political candidates, according to a leaked U.S. diplomatic communiqué.
Only a month after their adoption, new rules limiting U.S. dollar deposits into Mexican financial institutions have pushed money laundering activity into the United States, federal regulators said Tuesday.