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‘The Pendulum Has Swung Back’: Latin America’s Corruption Fight Stalls

The biggest corruption investigation in Latin America history began, humbly enough, at a Brazilian gas station, but as it steamrollered across the region, it took down top government officials and corporate titans alike. For those caught up in the scandal, it was a moment of reckoning. For ordinary citizens, it… Read More

Mexico reveals webs of corruption in contracts, trafficking

AP — Mexico’s top financial investigator on Friday reported on the webs of corruption and money laundering that thieves, traffickers and political figures have used to hide their wealth. Santiago Nieto, the head of Mexico’s Financial Intelligence Unit, said a federal judge took bribes to rule in favor of the… Read More

US charges: Mexico ex-security chief took bribes from cartel

AP — Mexico’s former top security chief has been indicted in New York City on charges he accepted a fortune in drug-money bribes from kingpin Joaquin “El Chapo” Guzman’s notorious Sinaloa cartel to let it operate with impunity in Mexico. Genaro Garcia Luna, 51, was charged in federal court in… Read More

5th December 2019

Trump Moves Toward Labeling Mexican Cartels as Terrorist Groups

The Trump administration is moving forward on calls to classify Mexican drug cartels as terrorist organizations after the killing of nine U.S. citizens in Mexico, with top officials seeking to reach a decision this week, according to three people familiar with the matter. President Donald Trump is scheduled to meet… Read More

2nd December 2019

Mexico bristles at U.S. cartel sanctions plan, insists it’s doing its part

Mexican President Andres Manuel Lopez Obrador said on Friday that his government was committed to fighting organized crime, seeking to dispel fears that the United States could take matters in its own hands in the fight against drug cartels. U.S. President Donald Trump said earlier this week that he plans… Read More

27th November 2019

KYC360 Exclusive: Leveling the Uneven Playing Field from Which We Fight

At times, we AML professionals in the private and public sectors that play by the rules have difficulty realizing that the “bad guys” at the highest levels of the criminal world have no rules. They have more resources and capabilities than we can conceptualize. Unless you’ve lived in that world,… Read More

21st October 2019

Prosecutors: Trade war opens doors For Mexican drug cartels

AP — Federal law enforcement officials in Oregon say they’ve uncovered an elaborate scheme to convert Mexican drug profits from sales in the United States back into pesos using Chinese citizens who seek to circumvent their country’s banking laws. The Mexican drug cartels are taking advantage of the… Read More

14th October 2019

Secret Recordings Describe Extensive Bribery at Mexico’s Pemex

In 2017, Israeli private investigation company Black Cube secretly recorded senior officials at Mexico’s Petróleos Mexicanos describing widespread bribery and corruption at the state-run oil company. The audio recordings are part of the evidence in a lawsuit filed last year against the Mexican government by a Mexican oil-field drilling company… Read More

4th October 2019

Mexico Supreme Court Judge Resigns Amid Financial Investigation

Supreme Court magistrate Eduardo Medina Mora, who is being investigated by Mexico’s financial intelligence unit for transfers to bank accounts in the U.S. and U.K., resigned his post on Thursday, Reforma newspaper reported citing people it did not identify. The high court said it had not received confirmation… Read More

3rd October 2019

Prosecutor: ‘El Chapo’ gave $1M to Honduras leader’s brother

AP — Prosecutors alleged Wednesday that convicted Mexican drug lord Joaquín “El Chapo” Guzmán personally gave $1 million in bribes to the brother of Honduras’ president to pass on to the Central American leader, who swiftly denied wrongdoing. Prosecutor Jason Richman revealed the allegation in… Read More

27th September 2019

In Mexico, 85 fintechs are seeking permission to operate

Mexican banking regulator CNBV said on Thursday it received applications from 85 companies to formally operate in the country under its new fintech law as the government of President Andres Manuel Lopez Obrador pushes for more financial inclusion. The government has been looking to both banks and fintechs as it… Read More

26th September 2019

Mexico: Unnamed Soccer Teams Investigated for Money Laundering

Several Mexican regional soccer teams are being investigated for alleged money laundering, sources from the Mexican Ministry of Finance confirmed on Wednesday to EFE, without proving the names of the teams linked to the case. No athletic clubs have been named directly and Mexico’s highly lucrative and popular soccer teams… Read More

24th September 2019

‘Rio Treaty’ Nations to Cooperate on Sanctions on Venezuela’s Maduro

Western Hemisphere nations voted Monday to employ a regional treaty to impose sanctions against embattled Venezuelan leader Nicolás Maduro, accusing his regime of criminal activity including drug trafficking and money laundering. In a meeting convened by the Organization of American States, 16 of the 19 states party to the Inter-American… Read More

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