Mexico

New Documents

Mexico Arrests Suspected Logistics Operator of Sinaloa Cartel (in Spanish)

Mexican military and national guard forces, in coordination with the National Intelligence Fusion Center, detained José N., a suspected logistical operator of the Sinaloa cartel drug lord Ismael “El Mayo” Zambada García in Culiacán, Mexico.

March 15, 2023

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

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

News

Weekly Roundup: Investigation Links EU Beneficial Ownership Opponent to Russian Oligarchs, FinCEN’s ‘Access’ Rule Sparks Debate, and More

U.S. appellate court overturns dismissal of Swiss money laundering case, Oregonian officials redirected, misinvoiced rare bourbon, and more, in the weekly roundup.

February 10, 2023

Weekly Roundup: US Treasury Blacklists Iranian Drone Supplier, Former European FIU Chiefs Face Bribery Charges, and More

Abramovich transferred his assets to his children, France suspends beneficial ownership access, and more, in the weekly roundup.

January 6, 2023

Midweek Roundup: Danske Bank Pleads Guilty, All Eyes on Binance, and More

December 14, 2022

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

November 23, 2022

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

November 16, 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