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Mexico Sets Limits on U.S. Cash Deposits

By Colby Adams

The Mexican Finance Ministry Tuesday unveiled strict new limits on cash deposits of U.S. dollars in efforts to curb the flow of illicit cash into the financial system from drug traffickers. Under the measures, customers of Mexican banks will be prohibited from depositing more than $4,000 in cash per month, and non-accountholders will be limited to $300 in cash deposits per day, and $1,500 per month. The regulations will also prevent tourists from exchanging more than $1,500 into pesos per month, except in designated tourist areas and sections of the U.S.-Mexico border. "In recent years, banking institutions have received significant...

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