Skip to main content

MEXICO MANGO MAFIA : US Banks Close Branches Along Mexico Border to Prevent Money Laundering









Written by David GagneWednesday, 27 May 2015








A Chase bank in Nogales, Arizona









Major US banks have recently closed branches along the southern border with Mexico in an attempt to crack down on money laundering, a reflection of the ease with which Mexican drug traffickers can legitimize illicit proceeds north of the border.





In recent months, major banks such J.P. Morgan and Bank of America have closed their branches in the border town of Nogales, Arizona, reported The Wall Street Journal. Other banks, including Wells Fargo and Chase, have reportedly closed hundreds of customer accounts, many of which belonged to Mexican nationals. 




The anti-money laundering measures come amid tightening regulations stipulating that banks can be hit with stiff fines if they fail to adequately monitor suspicious accounts, reported National Public Radio




Banks on the Mexican side of the border have also recently stepped up their efforts to combat money laundering operations. Some Mexican banks have started refusing to accept US dollars, according to The Associated Press









InSight Crime Analysis




US banks have real reason to fear criminal networks will use their financial services to launder money.




 Arizona has previously been singled out as a principal money laundering destination for Mexican drug cartels, and bank executives told The Wall Street Journal that Southern California and the Rio Grande Valley in Texas are also high-risk border areas. 



As evidenced by the recent decisions, in some cases it is easier for banks to simply close accounts and branches rather than attempting to keep criminals from using their financial services. 







Several high-profile cases point to the ability of Mexican drug traffickers to legalize their illicit funds via the US banking system. 




In 2010, Wachovia (which is now Wells Fargo) reached an agreement with the US government after prosecutors found that at least $110 million in drug proceeds had been laundered through the bank. 



In 2012, the Federal Bureau of Investigation (FBI) also uncovered a scheme in which Mexico's Zetascartel laundered money through a horse racing enterprise by using Bank of America accounts.







In addition, the decisions by major banks to close their border branches suggest that putting pressure on banks -- rather than going after individuals or criminal networks -- may be the most effective way to combat money laundering.




 A recent legal decision, in which a conviction was overturned in the Zetas horse racing case, demonstrates just how difficult it can be for prosecutors to go after the money launderers themselves.






http://www.insightcrime.org/news-briefs/us-banks-close-branches-along-mexico-border-to-prevent-money-laundering








Popular posts from this blog

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…

Mangoes date back 65 million years according to research ...

Experts at the Birbal Sahni Institute of Palaeobotany (BSIP) here have traced the origin of mango to the hills of Meghalaya, India from a 65 million year-old fossil of a mango leaf. 





The earlier fossil records of mango (Mangifera indica) from the Northeast and elsewhere were 25 to 30 million years old. The 'carbonized leaf fossil' from Damalgiri area of Meghalaya hills, believed to be a mango tree from the peninsular India, was found by Dr R. C. Mehrotra, senior scientist, BSIP and his colleagues. 




After careful analysis of the fossil of the mango leaf and leaves of modern plants, the BISP scientist found many of the fossil leaf characters to be similar to mangifera.


An extensive study of the anatomy and morphology of several modern-day species of the genus mangifera with the fossil samples had reinforced the concept that its centre of origin is Northeast India, from where it spread into neighbouring areas, says Dr. Mehrotra. 




The genus is believed to have disseminated into neighb…

DHL (INDIA) makes gifting mangoes as easy as 1-2-3-....

Gifting mangoes is now easy with DHL
Announcement / Corporate


 May 19, 2011, 14:04 IST





Come this summer pamper your loved ones abroad with a box of delicious mangoes through DHL’s Express Easy Mango service, a unique one-stop-shop and hassle-free service for gifting mangoes all across the world.






This unique service by DHL Express, the world’s leading express company, allows customers to send mangoes from India across the world to the following countries Belgium, Canada, Czech Republic, Germany, Greece, Hungary, Hong Kong, Italy, Luxemburg, Maldives, Netherlands, Norway, Oman, Qatar Singapore, Switzerland and Sweden.





Mangoes can be availed of free of cost by merely paying for the Air Express service. In addition, DHL Express assists customers with the necessary paperwork along with procurement of quality-grade Alphonso mangoes.





Commenting on the new service, Mr. R.S Subramanian, Country Head, DHL Express India said: “With the advent of the mango season, it is no wonder that DHL Express Ea…