Day

July 22, 2015
Banks and credit unions here in the United States are reporting ATM card fraud that originated with skimmers in the touristy town of Puerto Vallarta, Mexico. Imagine the opportunity from a criminal’s point of view: an area full of American tourists with nice, magnetic-strip cards! Would you have been a victim? It helps if you...
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Citigroup Inc said it would shut its Banamex USA operations and pay $140 million to regulators who alleged the bank did not correct weaknesses they had found in 2012 in its anti-money laundering programs. The fine, imposed by the Federal Deposit Insurance Corp, includes $40 million in civil penalties to be paid to California’s Department...
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Credit cards and cash aren’t disappearing anytime soon but Latin American business travelers in Brazil and Mexico appear keener to bid them farewell for digital payments than their counterparts in other regions, including the U.S. In a Global Business Travel Association and American Express survey, 36% of both Brazilian and Mexican business traveler respondents indicated...
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The drop in the value of the Mexican peso – trading this week at around 16 to the dollar – is boosting exports and tourism, but it is also harming local businesses, analyst Rafael Carrero told EFE. “Devaluations always have a double effect. For example, they increase tourism and boost trade, but they hit the...
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When we first moved to Puerto Vallarta, I was afraid to go to the nearby supermarket, Leys, because, well, it appeared so Mexican. I much preferred to go to the corner stalls. While they were still Mexican, there was usually just one person in them so I would not be too embarrassed asking for something...
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