Tuesday, August 9, 2016

INSIGHT-Money laundering rule on prepaid cards stalled after industry pushback

NEW YORK/ST. LOUIS, AUGUST 10 (Reuters) - In 2011, amid a

crackdown on international money laundering, the U.S. Treasury

Department tried to close a loophole that authorities said

allows drug cartels to move bulk cash across borders on gift and

other prepaid cards.

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