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Mexico’s Rollback of U.S. Dollar Restrictions to Worsen Border Laundering, Say Investigators
By Kira Zalan
printMexico'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. On Friday, President Enrique Pena Nieto said his administration would end the cap on deposits by corporate clients of border banks provided that they have been incorporated for at least three years, can show that they have a need for the money and will agree to stricter anti-money laundering controls. The 2010 rules barred banks from accepting American cash from corporate clients for currency exchanges, transfers and remittances except in...
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