BLACK MARKET PESO EXCHANGE (BMPE) EVOLVING IN US

An article from Insight Crime on 26 January said that US federal prosecutors say a real-estate investment firm accepted millions in drug money, revealing how high-end real-estate ventures are being used to launder dirty cash at scale.  It was explained in a statement that the “Black Market Peso Exchange facilitates the laundering of vast sums of drug trafficking proceeds”.  The forfeiture is said to signal not only the surrender of millions in laundered proceeds, “but also the agreement of corporate defendants to exercise due diligence to ensure they are not assisting in or facilitating money laundering”.  The BMPE, which refers to a trade-based money laundering system and came into prominence in the 1980s, is nothing new, but this settlement underscores that the system has evolved to include the investment of dirty dollars within the US into legal, high-end, profit-earning real estate.

https://www.insightcrime.org/news/analysis/black-market-peso-exchange-us/

If you would like to make a (polite) gesture and make a (very) modest contribution to my ongoing with my relocation, removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s