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Small businesses, ways to launder money in Mexico

Edgar Huérfano / El Economista / Tuesday, August 10, 2010

One way that has detected the United States government to launder money between Mexico and the United States is the creation of small companies with great cash flow, such as dairies, retailers and pharmacies, this according to the Property Control Office Aliens (OFAC, for its acronym in English).

Adam J. Szubin, director of OFAC, said the Mexican drug cartels in Mexico buy small businesses to move higher dollar amounts of cash, then put legally in the U.S. financial system and appropriate transfer tax havens.

"It's an increasing global trend of money laundering around the world and, therefore, the increase between Mexico and the U.S.. The more we improve our research process, the criminals look for weaknesses in legal systems or the processes of research, "argued Szubin.

Last June, the Department of Homeland Security United States presented a study where, every year come to Mexico from the north country between 19.000 and 29.000 million for money laundering.

The document specifies that the funds come from the American mafias make payments for the purchase of Mexican drug cartels.

OFAC is the U.S. agency charged with investigating and if necessary to freeze the assets of foreign nationals in U.S. territory that support terrorism, production of weapons of mass destruction, drug trafficking and other illicit activities.

Is prosecuted ex officio
The office works automatically in the federal investigation to combat money laundering with other U.S. federal government agencies, where deemed pertinent, has the ability to freeze accounts, real estate and investments, both to individuals and companies foreigners, until the owner of the assets test your legal origin.

OFAC recognizes that Mexican banks have a high commitment to combating money laundering, because he has cooperated with the authorities of both countries.

Considered that the coordination between the governments of Mexico and the U.S. has allowed higher levels of operational efficiency of the working groups.

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