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Money Laundering in Mexico
In Mexico,since 2006, billions of dollars are still being laundered after open war against drug dealing was declared by former President Felipe Calderón.
In Mexico,since 2006, billions of dollars are still being laundered after open war against drug dealing was declared by former President Felipe Calderón . Mexico judges hardly ever condemned those responsible for money laundering. According to Spanish newspaper El Pais, in nine years, "over 2 310 inquiries have been conducted but only 5% resulted in a conviction of those who were involved". As a result, 2 cases out of 10 did reach the court, despite law reforms initiated by Mexico to fight more efficiently flow of illegal funds.
Sinaloa, the cartel eponymous state, ruled by "El Chapo" Guzmán, who was arrested on 9 January this year, and other northern states such as Baja California, Sonora, Tamaulipas and central state Jalisco, are most often money laundering reported states.
Estimations of money laundering total sums are different from whether they were conducted by American or Mexican authorities. Mexico's estimates them to be around $10 billion, whereas the U.S's estimate goes up to $29 billion.
