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Mexico to Ban Payment in Cash

Posted By admin On August 29, 2010 @ 4:18 am In Featured Stories | Comments Disabled

Press TV [1]
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.

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Mexico to Ban Payment in Cash 260310banner2 [2]

Having A Supply Of Healthy Foods That Last Just Makes Sense (AD) [3]

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. [1]


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URLs in this post:

[1] Press TV: http://www.presstv.ir/detail/140267.html

[2] Image: http://purewaterfreedom.com/

[3] Having A Supply Of Healthy Foods That Last Just Makes Sense (AD): http://www.efoodsdirect.com//index.html?aid=14&adid=43

[4] Large Cash Transactions Banned In Mexico: http://www.prisonplanet.com/large-cash-transactions-banned-in-mexico.html

[5] Mexico drug kingpin says he received trailers of US cash: http://www.prisonplanet.com/mexico-drug-kingpin-says-he-received-trailers-of-us-cash.html

[6] The Death Of Cash? All Over The World Governments Are Banning Large Cash Transactions: http://www.prisonplanet.com/the-death-of-cash-all-over-the-world-governments-are-banning-large-cash-transactions.html

[7] Cashless Society: Bank of America Refuses Cash for Mortgage Payment: http://www.prisonplanet.com/cashless-society-bank-of-america-refuses-cash-for-mortgage-payment.html

[8] First drug addict sterilised under ‘cash for vasectomy’ offer: http://www.prisonplanet.com/first-drug-addict-sterilised-under-cash-for-vasectomy-offer.html

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