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State Officials Question Whether Cartels Exploit Links Between US MSBs and Mexican Banks

By Colby Adams and Brian Monroe

State prosecutors along the U.S. border with Mexico are reviewing whether drug traffickers are acting as subagents for Mexican banks that front payments on behalf of American money services businesses, an Arizona official said. In an interview with ACAMS moneylaundering.com, Cameron Holmes, a senior prosecutor with the Arizona Attorney General's Office, said that the queries center on whether the Mexican banks in question properly screened subagents for possible links to narcotics trafficking and money laundering before they began processing remittances for Western Union and other U.S. money services businesses, or MSBs, but declined to say whether officials had opened a...

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