Mexican financial institutions cease operations after US money laundering claims

[Michigan Swamp Buck]

"3 Mexican financial institutions cease operations after US money laundering claims"

The United States government effectively killed off three Mexican financial institutions by accusing them of laundering money for drug cartels and announcing a ban on transactions between them and U.S. banks. 

Four months after the U.S. Department of the Treasury made public its accusations against the banks Intercam and CIBanco and the brokerage firm Vector, all three of the financial institutions have ceased to operate in Mexico.  

Intercam, CIBanco and Vector all denied the accusations the U.S. government leveled against them.

https://mexiconewsdaily.com/news/3-mexic...ng-claims/


Good. Well done, but do more.

[Ninurta]

Western Union should be next. A lot of money permanently vacating the US and taking up new residence in Mexico via Western Union. Some of it is from illegals working here and sending money home to their families, but don't think for a second the drug cartels haven't noticed that...

Actually, i think that ALL monetary transactions flowing from the US to Mexico should be blocked, just to be safe. It would also eliminate one of the draws to coming to the US illegally to just work and send all the proceeds back in to Mexico.

Of course, the cartels would just route their proceeds from the US to Mexico via third-party nations, but start blocking those, too, and eventually no institutions would risk doing business with Mexico.

Then Mexico would have to crack down hard on the cartels instead of taking bribes from them, just to get their own finances rolling again. When cartel finances are so constricted that they can no longer pay bribes, and no one else is sending dollars to Mexico, either, how is a Mexican politician supposed to support himself in the luxury to which he'd like to become accustomed? Crack down hard on the cartels and get legitimate money flowing again to refill the coffers, of course!

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