Doesn't work that way. That money isn't just sitting in some mattress. A good chunk of it is sitting in foreign accounts dispersed across the world. Even if the US comes for it, the nations earning interest off that "dirty money" aren't incentivized
to just let that money go like that. If anything, they'll ensure the judication process over finding, sourcing and returning the funds is as long and expensive as possible. Lol, that "dirty money" has gone into a businesses annual forecasts. It's like you earning 100k a year and all of a sudden you get word that your salary might be cut to 70k, even though you've planned your life around 100k
Does work that way, the issue is there is not one way that works. There's levels to this. Banks are not holding that money all at one time, for various reasons, i.e. HSBC, JP Morgan, Deutsche Bank, Credit Suisse, Wells Fargo to name a few have been in the news off their links to drug cartels for years now. The Risk and Compliance management of cartel money is set apart from the storage and street movement of the funds that are exchanged on the ground level.
There is no catch-all for drug cartel money. It functions like a corporation, itself; there's various sources that are used for the money stash. Banks are haven bc they're "too big to jail" but no cartel is using banks or finance firms as the catch all to house drug money.
-U.S. authorities have seized a large container ship operated by Switzerland-based Mediterranean Shipping Co., three weeks after customs authorities found 20 tons of cocaine on the vessel.
The MSC Gayane, which is owned by
J.P. Morgan Asset Management and chartered to MSC, the world’s second-biggest container ship operator by capacity, is
“subject to possible forfeiture,” U.S. Attorney William McSwain said in a statement. The Gayane was raided on June 17 by U.S. Customs and Border Protection agents who found about 20 tons of cocaine with a street value of $1.3 billion stashed in several containers. The ship had sailed from Freeport in the Bahamas and before that it called in Panama and Peru after starting its voyage in Chile.
Citi, Deutsche Bank, Bank Of America Were Channels For Sending Drug Money To Colombia, Court Filing Shows
