Mexico: amended anti-money laundering laws

Posted on December 4, 2013 • Filed under: Border Issues, Corruption, Crime, Mexico 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

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