Posted on 05/21/2016 6:44:35 PM PDT by MarvinStinson
If a new U.S. administration blocks the flow of remittances — the estimated $20 billion that Mexicans working in the U.S. send home each year — then joint efforts to stop money laundering and other illicit forms of finance will be dealt a dangerous setback, a senior Mexican official warned Thursday.
Donald Trump, the presumptive Republican presidential nominee, has vowed, if elected, to make Mexico pay to build a wall along the entire Southwest border, even if it means impounding remittance payments.
Fernando Aportela, Mexico’s deputy secretary for finance, said any attempt to seize remittances would force Mexicans to hide and smuggle their money, sending them into the shadows of illegality just as Mexican and U.S. officials are working to make money flows more transparent.
“We will end up getting less information” to work with instead of more, Aportela said at the Wilson Center, a nonpartisan think tank in Washington. “It will create (new) challenges.”
Aportela spoke at a forum on how the U.S. and Mexico have rewritten laws and shared information in an effort to stop money laundering and the movement of funds by organized crime, drug traffickers and other criminals.
He was asked whether attempts to confiscate remittances would be legal. Trump’s name was not mentioned.
Mexican officials have repeatedly rejected Trump’s campaign pledge, saying they have no intention of building or paying for a border wall.
A Trump administration could impose regulatory and logistical obstacles to transferring money to Mexico, just as the U.S. has done for terrorism financing. But doing so probably would face challenges in the courts and strong resistance from banks and financial institutions that make money off the transfers.
(Excerpt) Read more at msn.com ...
“If you stop us from abusing you, then WE WILL ABUSE YOU...!”
My head hurts.
Don’t block it...tax the hell out of it.
We don’t have to block it - just tax it at an income tax rate if the person sending it isn’t a verified citizen as unpaid income tax.
Mexico will cut off the supply of pinatas, DOS Equis,Tres Equis, Corona, chicle, and onyx chess sets. However, the drugs will still flow.
If we use and enforce E-Verify we don’t have to worry about “remittance”.
Hmmm, might be a "win-win".
It's not as though we trust them in a "joint" effort, aren't they the very model of government corruption?
.
Just like the Islamics — the terrorists will terrorize you if you fight back against their terrorism.
Mexicans in the U.S. send $24 billion back to Mexico each year. Put a tax on electronic fund transfers and use that to pay for the wall. Make the tax low enough that they won’t go to some other method of fund transfer. Taxing the fund transfers WILL make Mexico pay for the wall.
You should be put in charge of that.
Viva Donald Trump!
It’s interesting to see just how easily Trump got their full attention. At first, bluster, bravado on their part. Then Trump, in one sentence, says that we will block the illegals transfer of money and use that to build the wall. Suddenly they are sitting at attention and barking madly. Way too funny.
Ya all had it too easy with the appeaser in chief running the dog and pony show... it isn’t going to be easy street once we get obama out and gone. Don’t get used to having your way... we are a strong country and will once again have strong leadership.
Respect our borders by asking to come in and there’d be no reason to restrict folks sending money home.
Oh noes. Mexico is threatening to hold their breath
Yep. This stems from a failure of our Government to enforce our laws. However, taxing the hell out of cash going south is part of the solution.
They have an influx of indigenous SA’s (who they hate and don’t want to take care of) and send them on up to us.
Time to get tough and enforce current laws with strong consequences.
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