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唐朱昌
唐朱昌
教授,博士生导师。复旦大学中国反洗钱研究中心首任主任,复旦大学俄...
严立新
严立新
复旦大学国际金融学院教授,中国反洗钱研究中心执行主任,陆家嘴金...
陈浩然
陈浩然
复旦大学法学院教授、博士生导师;复旦大学国际刑法研究中心主任。...
何 萍
何 萍
华东政法大学刑法学教授,复旦大学中国反洗钱研究中心特聘研究员,荷...
李小杰
李小杰
安永金融服务风险管理、咨询总监,曾任蚂蚁金服反洗钱总监,复旦大学...
周锦贤
周锦贤
周锦贤先生,香港人,广州暨南大学法律学士,复旦大学中国反洗钱研究中...
童文俊
童文俊
高级经济师,复旦大学金融学博士,复旦大学经济学博士后。现供职于中...
汤 俊
汤 俊
武汉中南财经政法大学信息安全学院教授。长期专注于反洗钱/反恐...
李 刚
李 刚
生辰:1977.7.26 籍贯:辽宁抚顺 民族:汉 党派:九三学社 职称:教授 研究...
祝亚雄
祝亚雄
祝亚雄,1974年生,浙江衢州人。浙江师范大学经济与管理学院副教授,博...
顾卿华
顾卿华
复旦大学中国反洗钱研究中心特聘研究员;现任安永管理咨询服务合伙...
张平
张平
工作履历:曾在国家审计署从事审计工作,是国家第一批政府审计师;曾在...
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上传时间: 2014-09-22      浏览次数:805次
Laundering Mexico's Drug Money: Washing Up
 
Mon, Sep 22, 2014
 
http://www.businessinsider.in/latest/Laundering-Mexicos-Drug-Money-Washing-Up/articleshow/43100049.cms

DRUG traffickers, like everyone else, only want money because they want what money can buy. But turning dirty cash from drug sales into clean, usable currency has become harder for Mexican drug gangs as a result of tighter banking regulations at home and in the United States, their main market. The criminals are responding by piggy-backing on cross-border trade to launder their gains.

 

On September 10th roughly 1,000 law-enforcement officials raided the Garment District of Los Angeles, seizing at least $65m in cash and arresting nine people. According to court documents, several garment businesses allegedly helped drug traffickers ferry proceeds from sales back into Mexico.

 

The scheme is relatively simple. Black-market peso brokers contact Mexican importers who want to buy goods from a business in Los Angeles. The broker then finds a gang associate in the United States to pay the bill on behalf of the Mexican importer, using dollars from drug sales. The importer pays the broker in pesos; the broker takes a cut and passes along the remainder to the gang in Mexico.

 

Such schemes are not new, but they have become more popular as it has become harder to use the banking system to move money. In 2010 Mexico set restrictions on deposits of dollars. It later imposed reporting requirements on cash payments above a certain threshold for items like homes, cars and so on.

 

The United States has also ramped up its scrutiny of large cash transactions and taken a much firmer line against banks. In 2012 HSBC paid $1.9 billion to regulators in the United States to settle accusations that, among other things, it had failed to monitor transactions involving Mexican drug gangs.

 

That helps explain why drug kingpins are targeting businesses in Los Angeles, from toy manufacturers to clothing wholesalers, as ways to send money back home. Such firms--some of which are legitimate, some of which are purely fronts--provide convenient cover because of their frequent export of goods to Mexico.

 

Claude Arnold, who is in charge of US Immigration and Customs Enforcement's Homeland Security Investigations unit in Los Angeles, says the dealings have reached unprecedented levels in LA: "We've never seen it on such a grand scale before." In 2013 banks in the United States filed 1,510 "suspicious activity reports" related to possible trade-based money-laundering; over half came from California.

Keeping up with the traffickers will always be a huge task. Estimates vary widely but the Department of Homeland Security reckons that traffickers send as much as $29 billion back to Mexico every year from the United States.

 

If industrial-scale laundering is happening, say some, smallish manufacturers and cash deposits cannot be the only conduit (Mexico's President Enrique Pena Nieto this month announced that he would ease rules on cash deposits of dollars for firms). Better to look, too, at capital flows in other industries--property, tourism and the like.