Posted on 05/21/2016 6:44:35 PM PDT by MarvinStinson
If a new U.S. administration blocks the flow of remittances — the estimated $20 billion that Mexicans working in the U.S. send home each year — then joint efforts to stop money laundering and other illicit forms of finance will be dealt a dangerous setback, a senior Mexican official warned Thursday.
Donald Trump, the presumptive Republican presidential nominee, has vowed, if elected, to make Mexico pay to build a wall along the entire Southwest border, even if it means impounding remittance payments.
Fernando Aportela, Mexico’s deputy secretary for finance, said any attempt to seize remittances would force Mexicans to hide and smuggle their money, sending them into the shadows of illegality just as Mexican and U.S. officials are working to make money flows more transparent.
“We will end up getting less information” to work with instead of more, Aportela said at the Wilson Center, a nonpartisan think tank in Washington. “It will create (new) challenges.”
Aportela spoke at a forum on how the U.S. and Mexico have rewritten laws and shared information in an effort to stop money laundering and the movement of funds by organized crime, drug traffickers and other criminals.
He was asked whether attempts to confiscate remittances would be legal. Trump’s name was not mentioned.
Mexican officials have repeatedly rejected Trump’s campaign pledge, saying they have no intention of building or paying for a border wall.
A Trump administration could impose regulatory and logistical obstacles to transferring money to Mexico, just as the U.S. has done for terrorism financing. But doing so probably would face challenges in the courts and strong resistance from banks and financial institutions that make money off the transfers.
(Excerpt) Read more at msn.com ...
Don’t stop them. Tax them. a 10% tax would bring $2 billion a year. A start on a good wall.
**** “Mexicans in the U.S. send $24 billion back to Mexico each year” ****
Makes ya kinda wonder what kind of wall we could have had against ISLAM if Obama hadn’t given the Iranians 180 Billion
I do hate that poser
F Mexico. What in he hell have they done for us. Nothing but they sure don’t mind robbing us.
——If we use and enforce E-Verify we don’t have to worry about “remittance”.——
Quite a bit of remittances are done by legals and American citizens to Mexico....
E-verify would be meaningless...
““If you stop us from abusing you, then WE WILL ABUSE YOU...!”
My head hurts.”
No kidding. These alien leeches sound just like my grown kids.
They’re scared. They know they can’t win.
Those aren't the people we want to penalize. E-verify doesn't really address the issue though.
They’re squirming. They’ll pay for that wall in a nanosecond.
10 million of 20 million leaving will be noticed.
Those you refer to and those employing them will then fear getting caught.
They WILL build it because Mexico will pay their vagrants to build it using bldg materials purchased at volume/gov,t prices. In exchange Trump will give those involved in the construction credits toward legal entry into the U.S.
If there are 20 million here illegally, half of them leaving due to lack of employment because of E-Verify, will be anything but “meaningless”.
Sooo, if illegals don’t get their way, they will become even more illegal??
Then when the wall is done build a moat in front of it.
Actually, Mexico would do well with the wall. The wall would cut off a lot of the illegal smuggling, which would cut down on the crime gangs inside Mexico. Mexico can use the opportunity to clean house on a wounded bunch or cartels.
I think a 30% tax is reasonable...
BUT, this must apply to all remittances anywhere, so they can’t, say, send the money to Canada, and then forward it to Mexico.
How do tell the difference between a remittance sent by an illegal and legal immigrant or citizen?
My wife handles these transactions all the time at her job...
I’ve asked her...you can’t...unless putting a huge burden on the business asking them to verify beyond an ID card...
so the article is making a valid point..
“...force Mexicans to hide and smuggle their money, sending them into the shadows of illegality...”
#################################
Hell, that’s where they are now...A huge number of them....
In regards to sending remittances, E-verify is meaningless...
Which was my point, not illegal immigration...
Which was yours...
I wonder how many of these payments are drug payments.
Trump is in their heads. Love it!
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