ICE Looks At 700 Miami Businesses For Money Laundering Schemes
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MIAMI (CBSMiami/AP) — More than 700 businesses in the Miami area are being looked at by the feds for possible money laundering schemes.
U.S. Immigration and Customs Enforcement said the focus would be on electronics exporters, including those in the cellphone business. The targeted companies will be required to file certain Treasury Department forms for transactions over $3,000 rather than the current $10,000 threshold.
ICE officials say the companies also will be required to identify people involved in the transactions. Authorities say the program enhances law enforcement's ability to find and prosecute money launderers, including those in the illicit drug trade and violent criminal organizations.
The Miami businesses were not identified by name.
A similar order was issued last year for businesses in the Los Angeles area.
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