Money laundering, tax evasion suck billions from Mexican economy

Drugmoney3

 

REPORTING FROM MEXICO CITY -- The Mexican economy is "hemorrhaging" billions of dollars annually because of money laundering, tax evasion and other forms of corruption, a new study has found.

Mexico lost $872 billion between 1970 and 2010, the Washington-based advocacy organizationGlobal Financial Integrity said in an 80-page report released Monday. That averages a whopping 5.2% of gross domestic product, the group said.

“This is an enormously damaging reality for emerging markets and developing countries ... an enormously damaging drainage of resources," the group's director, Raymond W. Baker, said at  a news conference.

It is money that could have been used to invest in education, to build roads or to fight the drug cartels, he noted, in a country with one of the largest gaps between rich and poor. "The negative ramifications are huge for everyday Mexicans,” he said.

One of the most common ways for money to flow illegally out of Mexico is trade manipulation or incorrect pricing, Baker said, when companies or individuals falsify invoices and undervalue or overvalue exports or imports. The Times recently reported that "trade-based" money laundering was fast becoming a favored method of powerful drug cartels.

"Trade-based laundering takes advantages of blind spots in international commerce," The Times said. "And the huge, and growing, volume of legitimate trade between Mexico and the U.S. — now nearly $400 billion a year — makes it extraordinarily hard to detect."

In its report, Global Financial Integrity said illicit cash outflows from Mexico soared after the 1994 North American Free Trade Agreement, or NAFTA, went into effect -- from an annual average in the 1980s of $10 billion to $50 billion after 2000.

"NAFTA freed up trade," Baker said. "But it also freed up the opportunity to abuse trade."

http://latimesblogs.latimes.com/world_now/2012/01/money-laundering-...

Views: 122

Comment

You need to be a member of 12160 Social Network to add comments!

Join 12160 Social Network

Comment by Burbia on January 31, 2012 at 1:11pm

i believe in the us its called the fed reserve...

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

tjdavis posted a blog post
13 hours ago
Doc Vega favorited Burbia's video
14 hours ago
Doc Vega commented on Burbia's video
Thumbnail

InfoWars reporter Jamie White ‘brutally murdered’ near Austin residential area, outlet says

"Gosh do you think the Deep State was sending Alex a message? These bastards!"
14 hours ago
Doc Vega commented on tjdavis's video
Thumbnail

Route 91: Uncovering the Cover Up

"The lying bastards never covered one aspect of the shooter who was in bad health and couldn't…"
14 hours ago
Doc Vega favorited tjdavis's video
14 hours ago
cheeki kea commented on cheeki kea's photo
Thumbnail

furniture fail.

"Yip most folks here believe Trudeau the clown attempted to undertake a Whakapohane and failed…"
20 hours ago
Doc Vega posted blog posts
23 hours ago
tjdavis posted a video

Route 91: Uncovering the Cover Up

On October 1, 2017 58 people were killed at the Route 91 country music concert in Las Vegas....and by 2 weeks the media dropped the entire story due to all t...
yesterday
Doc Vega posted a blog post

Do Not Sleep in a Wilderness Cabin Alone There’s something out there!

It’s been well described by a number of encounters, and in some of those encounters the subject…See More
Friday
rlionhearted_3 posted photos
Friday
cheeki kea commented on Doc Vega's blog post Why Do They Want to Kill Elon Musk?
"Musk is the face of the intelligent geek nerd army who is exposing almost everything that concerns…"
Friday
cheeki kea posted a photo
Friday
Doc Vega posted blog posts
Thursday
Sandy posted a video

DARK WATERS | Official Trailer | In Theaters November 22

Mark Ruffalo stars in #Darkwaters.Get tickets: https://www.darkwaterstickets.com/From Participant (Spotlight), DARK WATERS tells the shocking and heroic stor...
Thursday
tjdavis favorited Doc Vega's blog post Why Has it taken so Long for Alejandro Mayorkas to be Impeached? Well that's Finally Happening
Thursday
tjdavis posted a video

Deception Has Evolved Into MASS BRAINWASHING

Deception has taken a dark turn, and it's no longer just about manipulating individuals. Today, mass brainwashing has become a powerful tool used to control ...
Thursday
cheeki kea commented on tjdavis's photo
Thumbnail

Rainbow Rousing

"I wonder how much longer the USA and Russia is going to put up with UK/NATO/& the West war…"
Wednesday
Doc Vega posted a blog post

A Promise I Cannot Keep

A mystical passage in a dream far away Perhaps deeply embedded in the Milky Way Rather than leave…See More
Tuesday
Burbia commented on TommyD's group The Chuckle Hut
Tuesday
Burbia posted a video

InfoWars reporter Jamie White ‘brutally murdered’ near Austin residential area, outlet says

InfoWars reporter Jamie White was “brutally murdered” near his Austin, Texas, home on Sunday night, according to the outlet.Alex Jones, the founder of InfoWa...
Tuesday

© 2025   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted