Mexico

New Documents

Mexican FIU Lodges Corruption Complaint Against Former AG (in Spanish)

Mexico’s financial intelligence unit filed a corruption complaint against former attorney general Jesús Murillo Karam following an investigation into politically exposed persons mentioned in the Pandora Papers.

November 17, 2022

US, Mexico Reaffirm Collaboration Against Transnational Criminals

The governments of U.S. and Mexico issued a joint statement following the anniversary of the U.S.-Mexico Bicentennial Framework for Security, Public Health, and Safe Communities.

October 14, 2022

US, Mexico Agree to Collaborate on Cyber Issues

August 19, 2022

FATF Re-Rates AML/CTF Compliance of Mexico

May 12, 2022

FATF Releases Third Follow-up Report on Mexico

June 16, 2021

News

Weekly Roundup: EU Court Strikes Down Public Beneficial Ownership Registers, HashFlare Founders Trigger US Money Laundering Charges, and More

Mexico authorizes U.S. seizure of drug kingpin’s assets, German FIU faces new STR backlog, and more, in the weekly roundup.

November 23, 2022

Midweek Roundup: FTX Investigations Commence, OFAC Targets Russia’s Western Enablers, and More

U.S. banking automation exposes elderly to fraud, Supreme Court considers constitutional challenge against federal regulation, and more, in the midweek roundup.

November 16, 2022

Midweek Roundup: Emirati Official Helped Russians Evade Sanctions, Ex-Swedbank CEO on Trial, and More

October 5, 2022

Midweek Roundup: Cryptocurrency Platform Penalized by New York, US Treasury Blacklists Putin’s Girlfriend, and More

August 3, 2022

Weekly Roundup: Mexico Investigates Former President’s Payments, Swiss Court Acquits FIFA Officials, and More

July 8, 2022

Enforcement Actions

0 Items Found

Key Documents

Mexico Places Controls on Large Cash Transactions Related to Real Estate, Car Purchases (in Spanish)

October 17, 2012

Mexico Updates Money Laundering, Terrorist Financing Portions of Criminal Code (in Spanish)

June 14, 2012

Mexico Publishes National AML Strategy (in Spanish)

August 26, 2010

Mexico Prohibits U.S. Cash Deposits Over $4,000 per Month (in Spanish)

June 16, 2010

Mexico Issues Customer Identification Requirements for Banks (in Spanish)

May 25, 2010

Mexico Establishes AML Requirements for Money Remitters (in Spanish)

August 3, 2011

Mexico Places AML Controls on Brokerage Houses, Stock Market (in Spanish)

May 6, 2009

Mexico: Popular Savings and Loan Companies Must Abide by AML Rules (in Spanish)

August 13, 2009

Insurance Companies Must Detect and Prevent Money Laundering, Orders Mexican Government (in Spanish)

June 20, 2008

Important Facts

  • The U.S. State Department labels Mexico as a major money laundering country. Illicit actors launder billions of dollars of drug trafficking proceeds through the Mexican financial system annually. Illicit drug proceeds leaving the United States are the principal sources of funds laundered through the Mexican financial system. Corruption, bulk cash smuggling, kidnapping, extortion, fuel theft, intellectual property rights violations, fraud, human smuggling, and trafficking in persons and firearms serve as sources of additional funds laundered through Mexico. Money laundering through the luxury real estate sector remains a concern, especially as a vehicle for laundering the proceeds of public corruption. Popular laundering methods include: the use of dollar-denominated illicit proceeds to purchase retail items for export and resale in Mexico or the U.S. and routing the revenues from the sales to transnational criminal organizations; investment in financial and real estate assets such as property and luxury items, particularly with respect to proceeds laundered due to public corruption; structure deposits where cash deposits into accounts in the U.S. are funneled into a single account and wire to Mexico; and use of unlicensed exchange houses to funnel narcotics-related proceeds. A legislation passed in 2019 expands predicate offenses of money laundering and makes asset forfeiture proceedings independent from any related criminal proceeding. In 2020, federal prosecutors filed the country's first three asset forfeiture complaints.
-Source: 2021 International Narcotics Control Strategy Report (INCSR)

Rankings

FATF i | 2013

Technical Effectiveness
Compliant : 10 High : 0
Largely Compliant : 22 Substantial : 4
Partially Compliant : 7 Moderate : 4
Non-Compliant : 1 Low : 3

Mexico's technical compliance was re-rated in a May 12, 2022 follow-up report

BASEL i

Rank : 50/110
Score : 5.09/10

TRANSPARENCY INTERNATIONAL i

Rank : 124/179
Score : 31/100

Tax Justice Network i

Rank : 80/133
Score : 53/100