NCJ Number
132561
Date Published
1991
Length
99 pages
Annotation
Money laundering is an international problem but particularly severe in Mexico, where preventive action is virtually nonexistent.
Abstract
The book describes the international dimensions of money laundering and international conferences dealing with the issue. The author also focuses on particular aspects of money laundering in Mexico, where money laundering is related to the general economic and political problems of the country. Also discussed is the viability of a monetary control policy to prevent money laundering. Illicit activities triggering money laundering in Mexico are primarily related to drug trafficking, followed by financial and bank fraud and the proceeds of political corruption. At present, the proportion of illicit money that enters Mexico is greater than that which leaves the country, leading in some regions to an underground economy having visible effects throughout society yet on the margins of fiscal control. Money laundering takes place primarily through the physical transport of money or goods by individuals or groups, via mail or messenger services, and bank transfers. Money is laundered either to transfer illicit money to its ultimate destination or to recycle it, in laundered form, back to its originators. Methods the author suggests to combat money laundering include verification of movements and the status of bank accounts; comparative verification of corporation assets and liabilities; and investigation of sudden growth in an individual's financial property.