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Mexico & Nafta - December 2007 (ISSN 1741-444X)

BUSINESS FOCUS: Money laundering: A US$10bn a year business

Mexico's Procurador General de la República, Eduardo Medina Mora, said on 30 October that money laundering between the US and Mexico was a US$10bn a year business. The proceeds of US drug deals return to Mexico in cash, traditionally entering the banking system through casas de cambio or the less-tightly regulated centros cambiarios. The money is then laundered though property, the jewellery market or the car industry, before being shipped north again where the law is invariably on the side of those with money.

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