FinCEN Warns Banks About Mexican Cartels Moving Money
A new alert published this week by the Financial Crimes Enforcement Network warns banks about Mexico-based criminal groups trying to smuggle large amounts of cash from the U.S. financial system into Mexico, where “they can be accessed again to fund…
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their criminal enterprises.” The alert includes an overview of how cartels and other groups may be trying to move that money, lists various red flags banks should monitor, and asks banks to file suspicious activity reports with FinCEN.