The U.S. Department of the Treasury announced an enforcement operation along the southwest border targeting more than 100 money service businesses (MSBs). The effort is the latest operation aimed at cutting off financial tools used by drug cartels.
Treasury officials revealed that MSBs are entities that are not banks but provide money transfer, wire, exchange, and other cash-based services; a type of business that, since it primarily deals with cash, provides a certain anonymity for cartels to move or launder funds.
As part of their operations, officials reviewed more than one million Currency Transaction Reports and 87,000 suspicious activity…
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