Tag Archives: United States Treasury Department

Mexico and Colombia, drug trafficking organizations wash 18 to 39 billion dollars a year

Money Laundering

Money Laundering

The main threat from drug trafficking remains the supreme challenge posed by illicit finance in the region. In Mexico and Colombia, drug trafficking organizations generate, move, remove and wash 18 to 39 billion dollars a year.

“As vertical integration hemispheric drug under the control of the Colombian cartels led to a fragmented market increasingly dominated by transnational criminal organizations in Mexico 90, the center of our counter-narcotics efforts sanctions has moved increasingly towards Mexico” he said to testify before the House Foreign Affairs Committee of the House of Representatives.

This, he said, requires “use additional tools” to achieve a more profound and lasting impact. This requires developing a more specific knowledge of the infrastructure of transnational criminal organizations in Mexico.

“More information on the counters, key, bookkeepers, lawyers and others who launder money for the cartels as well as formal and informal financial institutions they use to achieve a more varied and powerful change,” he said.

The Finance Ministry official said that U.S. since June 2000 nearly 500 individuals and entities have been designated by the Office for the Control of Foreign Assets (Office of Foreign Assets Control, OFAC) so that its assets are blocked according As required by the Act of Appointment of drug lords, the “Kingpin Act” the United States.

“This has resulted in blocking of about $16 million in financial assets in the United States and the exclusion of these persons to participate in the U.S. financial system,” he said.

He added that according to data last month, 15.7 million of these stranded assets have been seized and forfeited their rights of ownership, according to U.S. laws.

On the global threat posed by money laundering Money Laundering analysis. A Global Threat and the International Community’s Response to William Schroeder wrote for the Bulletin 2001 (FBI Law Enforcement Bulletin), said the U.S. banking bleached a significant portion of money washing around the world each year.

“U.S. lawmakers consider not only the amount ranges from something like 500 billion to 1 trillion dollars, but (…) half is laundered through U.S. banks,” says FBI bulletin after estimating that the International Monetary Fund estimate that the global money laundering crime ranges from 600 billion to 1.5 billion dollars a year is not correct.

“The United States Treasury Department has suggested that those 600 billion dollars represent a conservative estimate of the amount of money that is laundered each year, “the FBI document.

In his testimony yesterday Glaser also noted that the Western Hemisphere is a region of particular importance to the Department of Treasury and plays a critical role in safeguarding the U.S. financial system, as the economic and financial institutions of their country are “intertwined “with their neighbors.

“Especially with those of Mexico, a country that faces ruthless transnational criminal organizations whose tentacles extend into the U.S.,” he said.

Frontal combat laundering

A report from the U.S. Embassy, ​​released in April 2011, points to some successes against illegal money.

In March 2010, a four-year investigation led by the Drug Enforcement Administration (DEA) in collaboration with the Attorney General’s Office and the Financial Intelligence Unit (FIU) of the SHCP, resulted in charges against Wachovia, the fourth largest commercial bank in the United States. Wachovia agreed to a custody agreement with the Department charges U.S. Justice to settle charges that product knowingly processed profits from illegal activities and failed to comply conscientiously with the establishment of a program against money laundering.

As part of the settlement, Wachovia provided $ 110 million dollars to the United States government and paid an additional fine of $ 50 million to the Treasury Department.

U.S. authorities continue to increase internal efforts to aggressively pursue smugglers cash. The Immigration and Customs Enforcement (ICE) seized more than $ 260 million in cash in fiscal 2010.

In January 2010, the Immigration and Customs Enforcement (ICE) Firewall resumed operation, a joint initiative between ICE, the Bureau of Customs and Border Protection (CBP) and the Customs Administration of Mexico, which has the usual methods of smuggling and transfer of cash into Mexico.

The program has yielded the following results: forfeiture of $ 6 million, 179,000 in counterfeit $ 900, 20 kilos of cocaine, 390 kilos of 3 000 chemical precursors and eight arrests.

In May 2009, Mexico passed new legislation that gives greater strength to the laws of disposition of assets in order to prevent criminal organizations and their leaders have access to the profits of their illegal activities. The Departments of Justice and U.S. State are sponsoring 64 training courses in all 31 states of Mexico and the Federal District in order to improve Mexico’s ability to investigate and prosecute money laundering cases.

For the former President of Mexico Vicente Fox Quesada, the alleged terrorist plot to bomb Iranian ambassador’s life in Saudi Arabia in the United States, where Mexican drug traffickers involved “is a hair taken.”

“That’s only what you believe you,” he said when questioned on the subject.

During the trip he made personally to review Leon stadium facilities, prior to the concert of Carlos Santana, the former president was silent. Only interested in talking about the show Fox will host the Center on Saturday from 20:00.

“That’s a hair taken,” snapped when it insisted on the issue strained diplomatic relations between the United States, Iran and Israel.

Excelsior announced yesterday the release of U.S. agency analysts Stratfor, specializes in security issues, which claim that the argument presented by the U.S. Justice Department, in the sense that an Iranian terrorist group wanted to ally with Los Zetas to conduct a terrorist attack in the United States is unlikely.

“Unlikely to succeed: the U.S. response would be monumental and would cooperate with terrorist groups against the interests of both the Mexican government to Mexican drug cartels,” he argued Startfor.

Although it managed to stop the plot to assassinate Saudi Arabia’s ambassador in Washington and there was no real participation of the Zetas s, is in the air the question of what would have happened if instead of undercover DEA agents, Manssor Arbabsiar had contacted a real member of a drug cartel with the idea of hiring him to participate in a terrorist attack.

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Posted by on 10/14/2011 in Crime!, Mexican Drug Cartels


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