In an effort to fight money laundering in 2010 the Mexican government set a limit of $14,000 a month that businesses located on its border could accept in cash in any given month. Last week President Peña Nieto removed that limit, if the companies allow authorities to monitor their financial transactions and meet other requirements.
In order to escape the $14,000 monthly limit the border companies must show they have been operating for at least three years, allow authorities to monitor financial transactions and prove they need to make deposits larger than $14,000 a month to operate.
The president said “we can fight money laundering but without affecting businesses and corporations that work honestly.”
(from USA Today)
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