Fractional money transfers

One method of money laundering is the transfer of small amounts of money to different bank accounts in order to avoid making deposits that exceed the maximum amounts allowed by the banks so as not to arouse suspicion. 

Transportation of currency

Large criminal organizations usually use cash or foreign currency (mainly dollars) to evade bank security measures, so they transport the cash in large shipments to their final destination, which in turn will be inserted into the economic life. This modality has been detected in 42% of the cases prosecuted for money laundering.

money laundering

Fictitious investments

A large number of money launderers have declared having made fictitious investments in businesses inside or outside the country and justified their illicit fortunes through false reports on their supposed profits (dividend payments) in their “businesses”.

Purchase of real estate and investments

For example, in Colombia around 10% of the people convicted of money laundering used illicit money in the purchase of real estate, cars, properties or businesses, and even made investments in other businesses.

money laundering

Transactions with virtual currencies

With the use of technology and the little regulation that exists worldwide in the handling of virtual currencies, criminals have been taking advantage of this to move their money from one country to another without the slightest control. Virtual currencies appear and disappear very easily and are not easily traceable, they do not belong to any country, they belong to individuals (it is frequent that the owner of the platform is not known) and sometimes the computers where these currencies are managed are located in different countries, the computers handle partial information of the accounts and operations. 

money laundering

What sanctions are applied to launderers?

In general, the governments in their different laws contemplate the preceding crimes and in these legislations indicate the sanctions to which those who commit them may be subject. In the case of money laundering, regardless of the name given to it by the legislation, the laws do not always comply with the task of ensuring that the sanctions are dissuasive, i.e., that they should make the criminal not want to commit the crime again.

In the case of Mexico, the penalties provided for in the Federal Criminal Code provide for corporal penalties (imprisonment) of up to 15 years in prison and fines of up to 5,000 UMAs for those who carry out operations with resources of illicit origin. If we think of a person who launders large amounts of money, that figure may seem ridiculous.

Although the penalties are not high in time or amount, we must not lose sight of the fact that they are only for the underlying crime, that is, for money laundering. However, criminals will not be willing to suffer neither the time in prison nor the amounts of the penalties, so it is common for them to look for innocent people whom they can incriminate with the intention that if they are arrested by the authorities, the criminals will not run the slightest risk.

money laundering

We must be aware that criminals every day are looking for new methods to generate money regardless of whether it is lawful or not and do not care about harming other people in their property or in their persons, which is why we must always be very careful to know with whom we have contact, business dealings, especially in Internet operations; We must be aware of to whom we give access to our information, since at any moment we can fall into situations in which one of the preceding crimes is committed with us or that criminals launder their money with us, being us who run the risk in the event that the authorities exercise a criminal action.

Are you in Baja California Sur, Mexico? Todos Santos, Los Cabos, La Paz, Loreto, San Jose Del Cabo, Los Cabos, El Pescadero? Are you in Nuevo Leon, Mexico? Apodaca, Cadereyta Jiménez, El Carmen, García, San Pedro Garza García, General Escobedo, Guadalupe, Juárez, Monterrey, Salinas Victoria, San Nicolás de los Garza, Santa Catarina and Santiago… 

At Law In Cabo we seek to satisfy the different legal needs of our clients, both in their business and personal matters. Contact us at: (+52)8119384461, where we will gladly advise you.

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