Mexico and US aim to Stop Money Laundering

The Associated Press reports that Mexico and the U.S. has recently agreed to share a data plan to stop money laundering from occurring through trade. This new trade unit will monitor any irregularities in transactions. This information will later be passed on to authorities who will investigate whether these irregularities are being used to fund criminal organizations.

Julie Myers, Assistant Secretary for Immigration and Customs Enforcement mentions that illicit trade has become a popular money laundering method. These two countries are looking to combat this method and finding new ways to prosecute drug lords. Similar programs currently in place in other Latin American countries have resulted in seizures worth US $21 million last year.

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