Western Banks ‘Reaping Billions from Colombian Cocaine Trade’
06.02.2012 at 09:52pm
Western Banks 'Reaping Billions from Colombian Cocaine Trade' by Ed Vulliamy of The Guardian.
The vast profits made from drug production and trafficking are overwhelmingly reaped in rich "consuming" countries – principally across Europe and in the US – rather than war-torn "producing" nations such as Colombia and Mexico, new research has revealed. And its authors claim that financial regulators in the west are reluctant to go after western banks in pursuit of the massive amount of drug money being laundered through their systems…
We’ve shown the willpower and ability to go after banking with sanctions on Iran. Arguably the drug trade to our south is a greater, more immediate threat to national security. Money is the center of gravity for these drug gangs. Seems like we are ignoring possibly the greatest weapon in our arsenal here.