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Mexico’s Long-Awaited AML Law Won’t Address Some Vulnerabilities, Say Critics
By Colby Adams
printChanges to the final version of Mexico's new anti-money laundering law leave important gaps in the nation's compliance regime, and may elicit criticism from an intergovernmental policymaker, say analysts. On Tuesday, Mexican President Felipe Calderon signed the Federal Law on the Prevention and Identification of Operations with Funds of Illicit Origin, a measure introduced in August 2010 and passed by Mexico's senate last week. Once implemented, the law will limit cash purchases of real estate to 500,000 pesos and cars, boats and airplanes to 200,000 pesos. The law will also leave several vulnerabilities unaddressed, and draw the attention of the...
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