Posted on 08/18/2023 5:08:26 AM PDT by Oldeconomybuyer
Drug cartels are using remittances – money transfers favored by migrant workers – to send illicit earnings back to Mexico. They’re hiring armies of people on both sides of the border to move small sums that are difficult to trace to narcotics kingpins, authorities say. Reuters visited Sinaloa, where some residents admitted to cashing remittances for the Sinaloa Cartel.
CULIACÁN, Mexico -- A Mexican mother walked into a bank in her home city of Culiacán in the Mexican state of Sinaloa, where an $8,000 remittance from the United States was waiting. She withdrew the funds in local currency, then strolled across town and deposited nearly all of it into accounts at two different banks.
Her cut: $230 worth of Mexican pesos.
It was the start of easy money for the woman, who said she previously had struggled to make ends meet cleaning houses.
Remittances to Mexico, nearly all of which come from the United States, hit a record $58.5 billion last year, according to data from Mexico’s central bank. That’s an increase of $25 billion, or 74%, compared to 2018.
As legitimate remittances have ballooned, it has become ever easier for cartels to disguise their ill-gotten gains in small transfers sent to average people across Mexico who have no obvious links to organized crime, according to four U.S. and Mexican security officials.
The cartels are awash in cash from U.S. sales of fentanyl, cocaine, heroin, methamphetamines and marijuana. Presently, up to 10% of all Mexico-bound remittances may be drug money moved by criminal organizations like the Sinaloa Cartel and the Jalisco New Generation Cartel, according to a U.S. government official.
(Excerpt) Read more at reuters.com ...
Here’s the big secret about banking: They don’t give a shit about cash. Just don’t go to Chase or Wells Fargo. Go to small town banks. They take any amount of cash. So do small town car dealerships. Buy a $30,000 car and drive it across the border. There are still plenty of business that take cash for anything.
Too busy gaslighting Americans about Climate nonsense and how great Bidenomics is working to stop this
It won’t be long until they claim $700 per month increase in costs from two years ago would have been far worse without Potemkins Joe’s spending trillions on boondoggles.
Let’s not forget Walmart. More U.S. dollars sent through those stores than most of the U.S. small banks I’ll wager. They also cash paychecks for the illegals - no questions asked. The small banks won’t do that.
I’ve said it for years, these “remittances” should be taxed at 50%.
L
Doesn’t take a genius to figure this out. They’ve been doing it for years and years.
Tax remittances 35% to account for unpaid income tax, FICA, Medicare, etc.
Wal-Mart. Absolutely true.
This isn’t news.
What’s news is that the government is letting it happen.
Not just drug money but majority of wire transfers are likely money illegals got somehow while being here. They surely didnt bring it here when they came.
Yep.
I have said for years that the BP should RAID every WESTERN UNION location on every weekend.
ALL Hispanics sending 90% of their pay south.
HAVE PHYSICALLY SEEN THE LINES/
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