Mexican Traffickers Turn to China and Hong Kong to Disguise Profits: US Officials

By Dan Bethencourt

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 Amid the enormous volumes of wire transfers to China to pay for manufactured goods, U.S. investigators have also seen an unprecedented volume of wire transfers heading in the opposite direction-away from China-that they have managed to link to narcotics syndicates in Mexico, according to a senior member of a federal task force that engages in anti-money laundering efforts. "China is a huge...