Mexicans Making Easy Currency Exchange Profits Thanks to Drug Cartels

Mexican drug cartels, along with an untold number of global criminal and terrorist organizations, launder billions of dollars every year through banks and money service businesses. In order to curb this cartel activity, the Mexican government has severely limited the amount of American dollars that can be deposited into numbered accounts. A side effect of this policy, however, has been that Mexicans and travelers who pass through the country’s airports can quickly and easily profit from buying U.S. dollars at a loss, then selling them a few feet away for pesos at a roughly 3 percent profit.
Cesar Tello, the vice president of Mexico’s foreign exchange trade association, explained to Bloomberg Business, “Churches, political parties, unions, to mention a few, all have this problem—they get dollars in cash and are stuck with them.” He continued, “If you have $100,000 and you can’t bank them, someone will be willing to take them for a price that’s not favorable.”

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