Daily Border Bulletin- Report highlights illicit flows of money from Mexico to the U.S., Foreigners buy more homes in the U.S., Violence in Juárez decreases

A report by Global Financial Integrity found that deposit data from the Bank of International Settlements show that the United States is the top destination for Mexican funds. A survey released Monday by the National Association of Realtors found that international buyers accounted for 8.9 percent of the dollars spent on residential real estate in the U.S. in the 12-month period that ended in March, The Wall Street Journal reported. Once the most violent city in the world, Ciudad Juárez reported that last May had the lowest number of slayings in more than three years, reports El Paso Times.

Report highlights illicit flows of money from Mexico to the U.S.- A report by Global Financial Integrity found that deposit data from the Bank of International Settlements show that the United States is the top destination for Mexican funds.
“The study reveals that increases in the flow of illicit funds significantly drive Mexico’s underground economy, which includes drug smuggling and human trafficking. As a result, Mexico’s underground economy has ballooned to more than 30% of its GDP.
But the United States has the power to help Mexico at little cost to itself. Mexico’s tax authorities need easy, automatic, access to bank deposit information on Mexican citizens with accounts in the United States, so that they may track tax evasion and other financial crimes across the border.”

Foreigners buy more homes in the U.S.– A survey released Monday by the National Association of Realtors   found that international buyers accounted for 8.9 percent of the dollars spent on residential real estate in the U.S. in the 12-month period that ended in March, The Wall Street Journal reported.
“Plowing money into real estate may sound like a risky venture to many Americans. But to growing numbers of foreigners, U.S. housing has never seemed a smarter investment.”

Violence in Juárez decreases- Once the most violent city in the world, Ciudad Juárez reported that last May had the lowest number of slayings in more than three years, reports El Paso Times.
“The drop in the city’s homicide rate — which has become a common but imprecise measure of violence and safety in Mexico — has been cautiously celebrated as law enforcers and observers admit the figure is still high.”

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About tanialara

Tania Lara has a vast experience working as a journalist in Mexico and the U.S. reporting in-depth about the economic contributions and realities of Mexican immigrants. This summer, she will be covering border issues and elections for the 21st Century Border Initiative blog. Her stories about complex cross border matters have been published in Spanish-language media outlets including CNN México, Expansión, and ¡Ahora Sí!, as well as the English-language newspaper The Austin American-Statesman.
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