Mexico Readies First Illegal Drug Financing Blacklist Krista Hughes - Reuters
go to original April 13, 2014

Mexico is preparing to implement new regulations that will allow the government to identify individuals and businesses linked to drug trafficking and ban financial firms from doing business with them, the finance minister said on Saturday.

Mexican Finance Minister Luis Videgaray said banking authorities would provide further details in coming days.

"For the first time, we have the capacity to issue a list and this list will impede any financial institution from carrying out transactions with these people," Videgaray told a news conference in Washington D.C., according to a transcript.

... Mexico's powerful cartels launder billions of dollars a year made by shipping illegal drugs to the United States. U.S. authorities have hailed Mexico's efforts to fight drug gangs and take down major drug lords, but they have also criticized a lack of action to dismantle cartel finances.

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