A US congressional commission has called on the authorities to radically reform anti-money laundering (AML) operations by blocking the flow of illicit funds using complex cross-border financial transactions and cryptocurrencies.

The commission is specifically concerned about black-market peso exchange trade-based money laundering (TBML) operations that continue to be routinely used to launder funds for Mexican and Colombian cartels repatriating the proceeds of drugs sales in the US.

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