General / In the Headlines

Funnel Accounts & Trade-Based Money Laundering

FinCEN recently released guidance on US currency restrictions in Mexico, specifically tailored to funnel accounts and trade-based money laundering. In 2010, the Mexican Finance Ministry (SHCP) announced new AML regulations that prohibit banks from receiving more than $7,000 USD in cash from a customer during a one month period. The cap also hits its threshold … Continue reading »