Mexico: amended anti-money laundering laws

dw.de reported…Not many experts in Mexico are willing or brave enough to discuss the country’s recently amended anti-money laundering laws, designed to hamper the drug cartels from trying to legitimize their ill-gotten gains. Banned transactions, in national or international currencies, include the sale of real estate or property valued at more than 520,000 pesos ($40,000). Boats, cars or planes over 200,000 pesos are on the list, which also includes anything from jewellery, precious metals, gems, watches to artwork. Insurance and retail services, credit cards, pre-paid cards or a travellers’ checks, when not offered by financial institutions, also fall under this category. Read Article