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Weekly Roundup: Mexico to Restrict Cash Deposits, Latvia Shuts Down VEF Banka Over AML Troubles, and More
printPlans by Mexico to introduce a new anti-money laundering rule next week aimed at curbing illicit cash deposits may do little to allay concerns by U.S. banks that high-worth Mexican clients may be tied to the country's drug trafficking problems. More On Tuesday, Mexican Finance Minister Ernesto Cordero said that Mexico will place new restrictions on cash deposits made with U.S. dollars in an effort to curtail the finances of drug traffickers and organized crime groups in the country, according to Bloomberg. Cordero stressed that the rules will not affect exchange controls, according to the report. More The day following...
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