Featured Stories World News Commentary Money Watch Multimedia Prison Planet U.S. News Science And Technology

Mexico to Ban Payment in Cash

  • Print The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store

Press TV
Sunday, August 29, 2010

Mexico says it is planning to tighten the noose around big-ticket cash purchases to curtail the flow of smuggled dollars and fight money laundering.

President Felipe Calderon put forward the sweeping new measures Thursday to crack down on billions of dollars of the illicit money gained by the drug cartels and spent by them for more profit.

“This illicit money is vital for the criminal. That is what they seek, this money. It is also vital to finance their activities,” said Calderon, The Washington Post reported on Thursday.

(ARTICLE CONTINUES BELOW)

Mexico to Ban Payment in Cash 260310banner2

Having A Supply Of Healthy Foods That Last Just Makes Sense (AD)

If approved by the legislature, the legislation would not allow anyone to buy real estate in cash. Neither would it permit anyone to spend more than MXN 100,000 (USD 7,700) in cash on vehicles, boats, airplanes and luxury goods.

Violators of the new legislation would face up to 15 years in prison.

Full story here.

This article was posted: Sunday, August 29, 2010 at 4:18 am





Infowars.com Videos:

Comment on this article

Comments are closed.

Watch the News

FEATURED VIDEOS
What They're Not Telling You About Race Riots See the rest on the Alex Jones YouTube channel.

Did Obama Order National Guard to Stand Down in Ferguson? See the rest on the Alex Jones YouTube channel.

© 2013 PrisonPlanet.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.