BajaNomad

Large Cash Transactions Banned In Mexico

AlanDow - 10-18-2012 at 07:34 AM

Outgoing president Calderon has signed into law a ban on large cash transactions to take effect in 90 days. Per the Forbes article (link below) paying cash of over $40,000 USD for real estate, or over $16,000 USD for a vehicle, in Mexico carries a "minimum" penalty of 5 years in prison.

http://www.forbes.com/sites/jonmatonis/2012/10/17/large-cash...