Skip to main content

MEXICAN MANGO MAFIA : 'Funnel Accounts' Newest Money Laundering Trend for Mexico's Cartels



















Written by Kyra Gurney 


Monday, 02 June 2014











 

Mexican cartels launder billions in drug money every year








Authorities in the United States have alerted banks to the use of "funnel accounts" in trade-based money laundering, the latest scheme in an extensive arsenal of operations employed by Mexico's drug cartels to legitimize their illicit funds.





On May 28, the US Treasury Department's Financial Crimes Enforcement Network (FinCEN) issued an advisory (pdf) warning banks that criminal organizations are using these accounts to skirt restrictions on US dollar deposits in Mexico. 






The method allows narcos to exchange US currency for Mexican pesos that appear to come from legitimate business activities. 





According to FinCEN, this scheme typically begins with criminal organizations hiring someone to open a US bank account that can receive deposits in branches in multiple states.






Once the account has been set up, various individuals working for the criminal organization deposit cash into this account -- often in places far from where the account was opened -- in amounts below $10,000, to dodge identification and transaction report requirements. An intermediary then uses wire transfers or checks to purchase goods with these funds, which are shipped to foreign countries and sold. The profits are transferred back to the Mexican criminal organizations.










InSight Crime Analysis


An estimated $19 to $29 billion is sent back to Mexico's cartels every year from US drug sales. However, getting this money into the country without attracting the attention of financial institutions or government authorities is a complex logistical task for the cartels, and one that has become increasingly difficult.







In 2010, the Mexican government issued restrictions (pdf) on the amount of US dollars that could be deposited into Mexican banks and on the use of US cash at exchange houses and brokerages. These regulations were designed to limit money laundering options for cartels, which previously often used "casas de cambio" to deposit large sums of hard currency. 








These regulations, along with other measures passed in recent years, have forced cartels to develop more creative methods of laundering US drug proceeds. The use of "funnel accounts" in trade-based money laundering is only the latest in a long list of schemes. 






Over the past few years, criminal organizations have been caught using a myriad of activities to disguise the source of their funds. 





Mexican cartels have used prepaid cards, opened horse breeding businesses, and robbed gold trucks, to name just a few.









http://www.insightcrime.org/news-briefs/funnel-accounts-newest-money-laundering-trend-for-mexicos-cartels



Popular posts from this blog

MEET MELANIA TRUMP: The 5'11" supermodel married to Donald Trump

Aly Weisman, INSIDER

Sep. 2, 2015, 3:28 PM 











Chip Somodevilla/Getty Images







While Donald Trump loves to be the center of media attention, his third and current wife, Melania Trump, is a bit more camera shy.










The Slovenian-born model keeps a lower profile than her husband, doing philanthropy work, raising their son, working on a jewelry collection with QVC, and creating a $150-an-ounce caviar moisturizer.




With Trump on the campaign trail, Melania has stoically stood by his side.




But who exactly is Melania and where did she come from? Learn about Trump's other half here ...





Melania Knauss was born April 26, 1970, in Slovenia.




Wikimedia/Getty







The 5'11" brunette began her modeling career at 16, and signed with a modeling agency in Milan at 18.



Chris Hondros/Newsmakers via Getty









She took a break from modeling to get her degree in design and architecture at the University of Ljubljana in Slovenia.








Wikimedia/Getty

Source: MelaniaTrump.com









But after graduating, her modeling career took off and Me…

THE MOST SOUGHT AFTER MANGOES IN THE WORLD ....

While "Flavor" is very subjective, and each country that grows mangoes is very nationalistic, these are the mango varieties that are the most sought after around the world because of sweetnesss (Brix) and demand.

The Chaunsa has a Brix rating in the 22 degree level which is unheard of!
Carabao claims to be the sweetest mango in the world and was able to register this in the Guiness book of world records.
Perhaps it is time for a GLOBAL taste test ???





In alphabetical order by Country....










India




Alphonso





Alphonso (mango)
From Wikipedia, the free encyclopedia








Alphonso (हापुस Haapoos in Marathi, હાફુસ in Gujarati, ಆಪೂಸ್ Aapoos in Kannada) is a mango cultivar that is considered by many[who?] to be one of the best in terms of sweetness, richness and flavor. 


It has considerable shelf life of a week after it is ripe making it exportable. 

It is also one of the most expensive kinds of mango and is grown mainly in Kokan region of western India.

 It is in season April through May and the fruit wei…

INDIA 2016 : Mango production in state likely to take a hit this year

TNN | May 22, 2016, 12.32 PM IST






Mangaluru: Vagaries of nature is expected to take a toll on the production of King of Fruits - Mango - in Karnataka this year. A combination of failure of pre-monsoon showers at the flowering and growth stage and spike in temperature in mango growing belt of the state is expected to limit the total production of mango to an estimated 12 lakh tonnes in the current season as against 14 lakh tonnes in the last calendar year.



However, the good news for fruit lovers is that this could see price of mangoes across varieties decrease marginally by 2-3%. This is mainly on account of 'import' of the fruit from other mango-growing states in India, said M Kamalakshi Rajanna, chairperson, Karnataka State Mango Development and Marketing Corporation Ltd.




Karnataka is the third largest mango-growing state in India after Uttar Pradesh and Maharashtra.



Inaugurating a two-day Vasanthotsava organized by Shivarama Karantha Pilikula Nisargadhama and the Corporation at P…