"Last week, the U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN) issued an alert to money transfer companies such as Western Union, MoneyGram, and Remitly urging them to monitor the origins of cross-border transfers. While the vast majority of remittances from the United States are legitimate and can provide critical financial support to family members abroad, FinCEN previously cautioned that malign actors have used low-dollar cross-border funds transfers to facilitate or commit terrorist financing, narcotics trafficking, and other illicit activity, the alert states."
"However, she warned that if any cases were to arise, Mexico's Financial Intelligence Unit (UIF) would be in charge of the investigation. This idea that remittances are used for money laundering, there is no evidence of it; and if there were, it would have to be punished, but that doesn't mean we're going to criminalize everyone who sends remittances, said Sheinbaum at Mexico's National Palace."
FinCEN issued an alert urging money transfer companies to monitor the origins of U.S.-to-Mexico remittances totaling more than $51 billion. The alert notes that most remittances are legitimate and provide critical support to family members, but warns that malign actors have used low-dollar cross-border transfers to facilitate terrorist financing, narcotics trafficking, and other illicit activity. U.S. money transfer firms must report suspicious cross-border payments of $2,000 or more. The alert aligns with U.S. efforts to curb migrant inflows and to cut organized crime financing through freezes and sanctions. Mexican President Claudia Sheinbaum rejected that remittances are a laundering channel and said Mexico's UIF would investigate any cases.
Read at english.elpais.com
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