| | | | | move money without fear of identification or seizure. |
| | | | The El Universal newspaper in Mexico City today 4 |
| | | | | 28/09 reported that what they refer to as |
| Global terrorist organizations are teaching the Mexican | | | | narcotraffickers (MDC’s) are using prepaid value |
| Drug Cartels (MDC) new ways to launder their millions | | | | cards to send money from the US to Mexico |
| of dollars of drug money profits. | | | | because this financial instrument is not subject to the |
| For years terrorist used systems of honor among | | | | usual measures against money laundering, according |
| themselves and would transfer money in person hand | | | | to Arizona state Attorney General Terry Goddard. |
| to hand the same way Muslims have been doing it | | | | ”This is something that is happening on our |
| for centuries. It is very hard that way to detect and | | | | border, cards that are being provided by a few |
| it leaves no paper trail. | | | | financial institutions, not major banks, but those that |
| For a short while when expensive new color copiers | | | | operate at a lower level,” he said during an |
| first come onto the since the terrorist copied money | | | | interview. The Prepaid Store Value Cards (as they |
| very well, these new machines could copy money so | | | | are called in the US) are not defined as |
| well it was hard to detect. So the feds made the | | | | “monetary instruments” for money |
| manufactures develop and install new detection | | | | laundering and narcotrafficers is taking advantage of |
| devices that when money was placed on the bed of | | | | that, knowing that the cards will not be inspected at |
| the copier it would shut down or alarms would go off | | | | the border. All who cross the border from the US |
| or both. | | | | to Mexico must declare if they are transporting more |
| Before the copy machines, PC’s and printers, | | | | than $10,000 in cash? Such people can carry more |
| counterfeiting was a difficult and expensive endeavor. | | | | than a million dollars in value cards and are not |
| You had to have money and lots of it to get started | | | | required to declare it because they are not breaking |
| because it required large expensive printing presses | | | | any law, Goddard emphasized. In his opinion, the |
| and the talent and ability (rare) to cut intricate | | | | cards should be inspected at the border and the |
| designs by hand into metal plates. But today as I | | | | amount contained in them deciphered electronically. |
| write this it is much easier to create counterfeit bills | | | | If the cards could be regulated, it would be another |
| and launder them by having several people pass | | | | blow to smugglers and narcotrafficers. ”This |
| them off to product and service providers. As | | | | money is the fuel that is feeding the violence,” |
| thousands of teenagers have discovered so have the | | | | he said. |
| terrorist and now the MDC’s. You can now | | | | Arturo Mendicuti, president of the Chamber of |
| create fake money with a PC, a scanner and a color | | | | Commerce Services and Tourism of Mexico City |
| inkjet printer in about 10 minutes. | | | | reported 777 million peso [56 million US] per day loss |
| The terrorist barrowed from the American CIA the | | | | in the city’s businesses. Hotel occupancy is the |
| system they have used successfully for decades and | | | | lowest in the past 16 years, between 5 and 10 |
| the CIA are still using today. Which is investing in new | | | | percent. The decline is now mainly attributed to the |
| start up business and expanding legal existing | | | | flu epidemic scare but many believe the war on drugs |
| businesses than deposit the cash into those company | | | | going on in Mexico is also a big contributor. |
| bank accounts and transfer the money to offshore | | | | Restaurants are now can only take order for food |
| banks that they control? Money laundering | | | | as to go orders that is to say the customer can not |
| happens in almost every country in the world, and a | | | | eat the meal at the restaurant but can only come |
| single scheme typically involves transferring money | | | | and pick it up. |
| through several countries in order to obscure its | | | | New American money has high-tech counterfeit-proof |
| origins | | | | bills so the U.S. Treasury claims. It first entered |
| However that you can not do anymore as the U.S. | | | | circulation in late 2003. Yes, it is detectable but million |
| and UK governments have persuaded off shore | | | | of dollars worth of counterfeit bills are still being |
| havens and jurisdictions to sign new treaties that | | | | passed on a daily bases. |
| forbid that way of banking and made it illegal to not | | | | It is true should you have real good eyes or a |
| report even the attempt to the American authorities. | | | | microscope and if you zoom in on different areas of |
| As a result the global financial systems now play a | | | | the bill and look at them closely, in good light you can |
| major role in most high-level laundering schemes, the | | | | see a number of features designed to deter "casual |
| international community is fighting money laundering | | | | counterfeiting." But who do you know who does |
| through various means, including the Financial Action | | | | that? Most passing of those bills happen in dark |
| Task Force on Money Laundering (FATF). | | | | places like bars and other like type places. There are |
| So now they are coming up with new ideas and | | | | detector pens and roll over detectors but few |
| ways to launder huge amounts of cash. | | | | retailers use them. |
| Money laundering, at its simplest, is the act of making | | | | The amount of counterfeit money being passed daily |
| money that comes from Source a look like it comes | | | | by the terrorist and the drug dealers is not known |
| from Source B. In practice, criminals are trying to | | | | but it is believed to be astronomical. And remember |
| disguise the origins of money obtained through illegal | | | | the really perfect counterfeit bills are never detected. |
| activities so it looks like it was obtained from legal | | | | Money Scam Image Gallery |
| sources. Otherwise, they can't use the money | | | | Department of Justice |
| because it would connect them to the criminal | | | | Federal Bureau of Investigation |
| activity, and law-enforcement officials would seize it. | | | | Sources: |
| Money laundering is a crucial step in the success | | | | U.S. Department of Justice National Drug Intelligence |
| of drug trafficking and terrorist activities | | | | Center |
| An assessment by the U.S. Department of Justice | | | | Arturo Mendicuti, president of the Chamber of |
| National Drug Intelligence Center regarding Prepaid | | | | Commerce Services and Tourism of Mexico City |
| Store Value Cards reported that the cards provide | | | | U.S. |
| an ideal money laundering instrument to anonymously | | | | |