As the federal government has choked the ability of drug dealers to deposit money in U.S. banks by increasing regulations, the holders of ill-gotten dollars increasingly are finding a new place to park their money -- in U.S. companies. Government officials say many U.S. companies unknowingly receive tainted funds when they deal with Latin American distributors. As a result, the feds are beginning to crack down on U.S. companies to more closely scrutinize funds, particularly when trading in Latin America.
March 03, 2000 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
They called it Operation Cash Back.
For three years U.S. undercover agents posed as Miami-based money exchangers, moving large sums of cash on behalf of Colombian drug traffickers. During the sting that ended last fall, the agents netted in excess of $4 million of allegedly dirty money.
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