Articles by Tracy Wilkinson and Ken Ellingwood
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Dirty Money: International Banks Have Aided Mexican Drug Gangs
Tracy Wilkinson and Ken Ellingwood - Los Angeles Times,
5 Dec 2011
Despite strict rules, some banks have failed to ‘know their customer’ or ask about the source of large amounts of cash, allowing billions in dirty money from Mexico to be laundered. Banking powerhouse Wachovia Corp. last year agreed to pay $160 million in forfeitures and fines after U.S. federal prosecutors accused it of “willfully” overlooking the suspicious character of more than $420 billion in transactions between the bank and Mexican currency-exchange houses – much of it probably drug money, investigators say.
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