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Another former drug agency official offered this explanation for the laundering operations: "Building up the evidence to connect the cash to drugs, and connect the first cash pickup to a cartel's command and control, is a very time consuming process.
It says it has a "proprietary network of banks and cash pickup locations" for receiving money (versus some others that use aggregated services).
Within minutes of receiving the funds, the recipient can pick up their money at thousands of cash pickup locations or at any of the 11,000 Bancomer ATMs across Mexico, even without a bank card or account.
In India, the extremely popular (and completely informal) money transfer system of hawala implies that your cash pickup point could be anything from a jewelry store to a travel agency.
It is much faster and safer to receive an international transfer on a mobile phone than a cash pickup, and once the money is received it can be used to buy insurance, pay bills and open a savings account". Of course, apps are part and parcel of the mobile revolution and financial inclusion.
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Prosecutors contended that Mr. Weinig and his partners helped facilitate, through a network of couriers, cash pickups of drug money from the street.
In contrast, cash pickups, which were 100% of WorldRemit's business when it first started, now account for only 30% of its terminations.
The company allows users to try before they buy and takes cash on pickup because credit card use is so low in LatAm.
Its other cash cows, minivans and pickup trucks, were about to come under attack from high-performance models like the Honda Odyssey minivan and Toyota Tundra pickup truck after years of little foreign competition.
"Helping Other Moms... Helps You!" The ad outlined Formula Mom's services: free pickups and cash payments for brands including Gerber, Enfamil and Similac.
At least 15 owners of large pickups cashed them in for new Hummer H3 SUVs that get only 16 mpg.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com