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☆ How Mexican narcos use remittances to wire U.S. drug profits home
▼ + stars: | 2023-08-18 | by ( Reuters Graphic | ) www.reuters.com time to read: +28 min

Now the news agency is the first to detail how Mexican drug gangs have harnessed legitimate remittance networks to repatriate their U.S. drug profits, and the factors that make this activity so difficult for authorities to detect and thwart. But authorities say Mexican drug cartels are piggybacking on this legal network to repatriate earnings from U.S. narcotics sales. A Reuters search of Mexican court records dating back to 2012 turned up no cases involving money laundering through remittances. Still, prosecutors in those cases mentioned several of those firms in court documents because they said the defendants had used their platforms to wire drug money. His office did not respond to requests for comment about law enforcement allegations that Mexican cartels are using remittances to launder drug money.

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MEXICO CITY, Jan 5 (Reuters) - Mexican drug cartel leader Ovidio Guzman, a son of incarcerated kingpin Joaquin "El Chapo" Guzman, has been arrested by Mexican authorities, five officials familiar with the matter told Reuters on Thursday. The United States had offered a $5 million reward for information leading to the arrest or conviction of Ovidio. Local government urged people to stay indoors and said schools and administrative offices were closed due to the violence. "We ask the citizens of Culiacan not to leave home due to the blockades that have occurred in different parts of the city," Culiacan Mayor Juan de Dios Gamez wrote on Twitter. Joaquin Guzman, 65, was convicted in New York in 2019 of trafficking billions of dollars of drugs to the United States and conspiring to murder enemies.

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