Tags: US | Mexico | Drug | Money

US, Mexico Fail to Stem Flow of Drug Money South

Thursday, 26 Aug 2010 09:17 AM

 

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Mexican drug cartels are moving tens of billions of dollars in profits south across the border each year, according to a report in The Washington Post.

U.S. and Mexican authorities are seizing just 1 percent of the illegal cash flow, according to a Post analysis.

The Obama administration has proposed a $600 million ramp-up in spending and personnel, including additional scanners and dogs, to capture more of the cash going from U.S. drug users to Mexican mafias.

Meanwhile, the drug traffickers and their suppliers smuggle $20 billion to $25 billion in U.S. bank notes across the southwest border annually as they seek to circumvent banking regulations and the flags sent up by large cash deposits.

"If we fail to curtail these money flows, the confrontation with organized crime will generate more violence and more corruption," Carlos Pascual, the U.S. ambassador to Mexico, said at a border conference in El Paso this month.

To read the full story, Go Here Now.


© All Rights Reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Sen. Elizabeth Warren's New Book Skewers White House Boys Club

Friday, 18 Apr 2014 11:26 AM

Massachusetts Sen. Elizabeth Warren's new book skewers the boys club who basically ran the nation's fiscal policy in the . . .

Obamacare Falls Short in Enrollees Age 18-35 With a Low 28%

Friday, 18 Apr 2014 10:32 AM

The Obama administration has announced that the number of people age 18-35 enrolled in Obamacare is 28 percent — a figur . . .

North: 'Unconscionable' for NYT to Link Veterans to Klan

Friday, 18 Apr 2014 09:32 AM

It was "unconscionable" for The New York Times to publish an op-ed piece linking U.S. veterans to the Ku Klux Klan, basi . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved