Mexico debates cash-sale limits to stop laundering
MEXICO CITY, Mexico — Limiting cash transactions to US$100,000 and requiring vendors to monitor suspicious activity are among the suggestions contained in a new package of measures Mexican President Felipe Calderon is introducing to combat money laundering.
Calderon has been under intense pressure from the opposition to propose new ways to fight drug cartels dominating the country. More than 28,000 people have died in drug-related violence since he launched a military-led offensive in late 2006.
In the package presented Thursday, Calderon also proposes improving Mexico’s intelligence services.
He remarked that “today, more than ever, it is essential to have the tools to hit criminals where it hurts the most: in their bank accounts”.
The opposition-dominated Congress must approve the package.
