Western Union Co. said the state of Arizona, trying to track down smugglers of drugs and illegal immigrants, plans to seize most money transfers of $500 or more sent from 29 states, including Colorado, to Sonora, Mexico.There are several links about this company in the recent Western Union income growth down. While the many other companies that send remittances, including major banks, might welcome this move, hopefully they'll be next.
A warrant obtained by Arizona Attorney General Terry Goddard blocks the money- transfer company from sending funds directly to 26 locations in the Mexican state, Western Union said in a filing Friday with the U.S. Securities and Exchange Commission. Instead, it must put the funds in a "detention account," even if the senders were outside Arizona...
...Western Union-branded money transfers from the U.S. to Mexico grew at a 23 percent rate in the first quarter. That dropped to 10 percent in the second quarter. In the third quarter through Sept. 14, the growth plummeted to 3 percent...
Immigration · Sun, 09/24/2006 - 20:43 · Importance: 1
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Comments
The state confiscating (i.e. stealing) people's money -- which was presumably earned, illegally or not -- is not my ideal solution to this problem.
Posted by: eh at Sep 25, 2006 1:34 AM
Moving drug money back to Mexico might have gone from being extremely easy to very easy.
Posted by: John S Bolton at Sep 25, 2006 12:41 AM