Tag: account closing

Mexico’s most powerful drug cartel laundered illicit proceeds in Colombia via contraband clothing and footwear products, according to a new report, taking advantage of the difficulty authorities face in stopping trade-based money laundering. In a July 27 article, Portafolio explains how Mexico‘s Sinaloa Cartel cooperated with...

Citibank additionally claimed they would keep financial relations with Venezuelan customers Following risk assessment, US bank Citibank confirmed the closure of some accounts of Venezuelan customers in the United States. In a communiqué sent to media outlets, the financial institution claimed: “Following a periodic risk assessment...