U.S. indictments claim cartels had reach into Mexico’s top security ranks
19th October 2020
U.S. indictments claim cartels had reach into Mexico’s top security ranks
For years, the United States called on a cadre of senior Mexican officials as its partners in the drug war. But some of the men working most closely with Washington allegedly had a side hustle of helping to traffic drugs. In the past 10 months, two members of Mexico’s elite… Read More
Mexico’s Former Defense Minister Is Arrested in Los Angeles for Money Laundering
16th October 2020
Mexico’s Former Defense Minister Is Arrested in Los Angeles for Money Laundering
A former Mexican defense minister was arrested on Thursday night after arriving at Los Angeles International Airport with his family, according to the Mexican government, becoming the first high-ranking military official to be taken into custody in the United States in connection with drug-related corruption in his country. The former… Read More
Mexico freezes 1,352 alleged criminal accounts in capital
15th October 2020
Mexico freezes 1,352 alleged criminal accounts in capital
AP – Police and Mexico’s federal anti-money laundering agency said Tuesday they have frozen 1,352 bank accounts that allegedly moved about $125 million on behalf of 14 crime gangs, including some of Mexico’s biggest drug cartels. While Mexico City officials have long denied that cartels operate in the capital,… Read More
HSBC: Dirty money and white collars
13th October 2020
HSBC: Dirty money and white collars
By Ignacio Rodríguez Reyna, Zorayda Gallegos and Silber Meza, Quinto Elemento Lab and CONNECTAS via OCCRP, 9 October 2020 Insight Crime – As drug traffickers’ bank of choice for many years, HSBC allowed its services to be used as a conduit for money laundering. The US and Mexican governments… Read More
Mexico says drug cartels prey on mining companies
30th September 2020
Mexico says drug cartels prey on mining companies
AP – Mexico launched a special government guard force for mining operations Monday, admitting that drug cartels have preyed on the companies, many of which are foreign. The first 118 mine guards graduated Monday from a special training course. They are equipped with assault rifles. Public Safety Secretary Alfonso… Read More
The evolution of serious and organised crime: the diversifying nature of criminal operations in the digital age
30th September 2020
The evolution of serious and organised crime: the diversifying nature of criminal operations in the digital age
Organised crime groups (OCGs) have evolved and adapted techniques designed to facilitate criminal activities, evade detection and enable criminal enterprise to endure. The National Crime Agency’s (NCA) national strategic assessment of serious and organised crime (SOC) 2020 reports that SOC continues to have more impact on UK citizens than… Read More
Julius Baer weighs opening U.S. business, buying LatAm firms
29th September 2020
Julius Baer weighs opening U.S. business, buying LatAm firms
Julius Baer Group Ltd. is deciding whether to start a wealth-management business in the U.S. as it seeks partnerships or acquisitions in its core Latin American markets. “I would not be doing my job as somebody that is totally committed to making our Americas’ business a top competitive business… Read More
FinCEN leaks expose personal risk of AML/CTF compliance enforcement
25th September 2020
FinCEN leaks expose personal risk of AML/CTF compliance enforcement
An unprecedented leak of thousands of files from the U.S. government’s most confidential financial intelligence database has shone a spotlight on the world’s $2 trillion-a-year dirty money habit. In spite of the excellent media coverage, this story goes much deeper than the “bad bankers” narrative being trotted out by many… Read More
Court unfreezes accounts of Mexican firm sanctioned by U.S.
21st September 2020
Court unfreezes accounts of Mexican firm sanctioned by U.S.
A Mexican court has unfrozen the bank accounts of a local company blacklisted by the United States for trading in oil with Venezuelan state oil firm PDVSA despite U.S. sanctions, Mexico’s anti-money laundering unit said on Saturday. In a statement, Mexico’s Financial Intelligence Unit (UIF) said it disagreed with the… Read More
B.C. court orders Mexican businessman to produce documents in alleged money-laundering case
14th September 2020
B.C. court orders Mexican businessman to produce documents in alleged money-laundering case
B.C. Supreme Court has stipulated that a Mexican businessman must produce documents within 30 days in a B.C. forfeiture case. The case involves two Kelowna-areas properties the province alleges were used to launder money linked to a $200-million plus international stock fraud. Following the consent of the parties, the court… Read More
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