Nov 28, 2011

Drug War - Money Laundring: International banks have aided Mexican drug gangs

Second in a series by the Los Angeles Times on money laundering, this article reviews some of the recent cases against U.S. banks and their avoiding of prosecution. "Money launderers for ruthless Mexican drug gangs have long had a formidable ally: international banks. Despite strict rules set by international regulatory bodies that require banks to "know their customer," make inquiries about the source of large deposits of cash and report suspicious activity, they have failed to do so in a number of high-profile cases and instead have allowed billions in dirty money to be laundered." read more

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