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 moneylaundering.com.
ACAMS moneylaundering.com recently spoke with officials from the FBI's kleptocracy squad about the unparalleled cooperation and inevitable difficulties in following the money.
Follow the headlines and you'll find an all too common story: the political winds shift, a leader is deposed and a fortune in dirty money is uncovered in a warren of offshore accounts. But why did no one stop the plundering sooner?
Prosecutors in dozens of federal districts are investigating individuals suspected of illegally shipping luxury cars from the United States to China, two U.S. officials said Monday.
Growing U.S. financial ties to the Chinese market will likely bring anti-money laundering compliance troubles along with profits, according to consultants and former government officials.
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