14:21, April 29, 2011

http://english.peopledaily.com.cn/90001/90777/90852/7365993.html

Mexico's Senate gave a quick nod Thursday to an anti-money laundering law targeting the financial structures of the country's increasingly powerful drug cartels.

The law requires the Attorney General's Office to establish an investigations unit targeting money laundering and demands that financial institutions develop ways of better identifying and monitoring the activities of their clients.

Other provisions in the law forbid cash transactions in buying real estate, vehicles, boats, airplanes, jewelry and stocks with a value of more than 200,000 pesos (17,300 U.S. dollars).

A press release from the Senate said that 25 billion dollars are estimated to be laundered in Mexico every year.