RECORD REMITTANCES FROM US TO MEXICO RAISE MONEY LAUNDERING CONCERNS

On 1 September, Insight Crime reported that the Mexican government is highlighting a record number of remittances sent back to the country by citizens living in the US this year amid the COVID-19 pandemic, with a 23% increase from the almost $23 billion in remittances sent during the same time period in 2020,  By the end of 2020, Mexico received a record $40 billion in remittances from the US, and this year is on pace to surpass that amount.  The article says that the record number of remittances sent back to the country from the US presents a clear money laundering opportunity.

https://insightcrime.org/news/record-remittances-us-mexico-money-laundering/

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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

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