Cartels and their criminal financing continue to evolve, using professional networks to launder the proceeds from narcotics trafficking, human trafficking, environmental crime, fuel theft and oil smuggling, corruption at ports and “taxation” of local economies.

In response, governments including the United States and Mexico have imposed sanctions on cartel-related entities and individuals, adding to the existing regulatory obligations to identify and report suspicious activity. Cartel operations – and the actions required by financial institutions and other businesses – must evolve in response.

In this webinar, the Institute for Financial Integrity will brief on their recent report on cartels and Chinese Money Laundering Networks, and K2 Integrity will assess key recent actions taken by the U.S. and Mexican Governments and implications of heightened sanctions and money laundering risks for Mexican financial institutions and businesses.

Webinar Agenda

In this webinar, we’ll explore:

Sources and scale of cartel revenues including narcotics trafficking, human trafficking and smuggling, environmental crime, fuel theft and oil smuggling, corruption at ports and “taxation” of local economies
Methods used to launder funds including mirror transfers, trade-based money laundering, crypto, cash smuggling, and “daigou,” and the role of Chinese Money Laundering Networks (CMLNs) as a key enabler
Key actions taken by the U.S. Government and Mexican Government including the designations of financial institutions and casinos and gambling establishments
The implications of OFAC and FinCEN designations and other actions directed towards Mexico-related transactions
Use of casinos by CMLNs to launder funds using money processors, “mirror transfers,” and “human head” proxies, using Wynn Las Vegas as a case study
Actions for financial institutions, casino operators, and other businesses