International Banks Help Mexico's Drug Gangs Launder Their Money

International Banks Have Aided Mexican Drug Gangs -- L.A. Times

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.

Reporting from Mexico City — Money launderers for ruthless Mexican drug gangs have long had a formidable ally: international banks.

Despite strict rules set by international regulatory bodies that require banks to "know their customer," make inquiries about the source of large deposits of cash and report suspicious activity, they have failed to do so in a number of high-profile cases and instead have allowed billions in dirty money to be laundered.

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My Comment: Nothing is going to change this .... there are too many hands in the pie that changing this will be a Herculean effort .... that will fail.