Mon. May 27th, 2024

Getting Crafty: Smurfing in Mexico’s Cartel Money Laundering

By Wineditablog Apr 9, 2024

“‘Smurfing’, or ‘structuring’, represents the money laundering tactic preferred by cartels in Mexico due to its discretion.

This method involves receiving illegal funds below declaration thresholds, preferably dividing them physically. Subsequently, ‘smurfs’ seek out various frontmen to conceal the money through products that can generate cash.

For example, they resort to grocery stores, businesses that handle most of their income in cash, especially if consumers are street vendors, who handle large sums of cash during their working day.

Another ‘smurfing’ strategy involves simulating the purchase of previously expropriated properties through a neighborhood committee.

Once the property is registered, it is sold in parts to other informal traders capable of paying up to $1,000,000 pesos in cash.

By Wineditablog

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