When the DOJ accused 14 in June of washing Mexican cartel money via a horse racing operation, it signified a rare feat in the drug war: a prosecution built solely on money laundering charges. Despite years of trying to choke the cash networks of Mexicans drug gangs, such cases remain the exception.
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.
Recent disclosures of alleged trade-based money laundering schemes perpetrated by Mexico's Los Zetas drug cartel demonstrates the group's growing ability to diversify their methods of illicit finance, say sources.