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Mexico to Delay AML Deadline for Nonbank Companies, Say Sources
By Colby Adams
printMexican officials will extend until February an upcoming deadline for nonbank companies to implement anti-money laundering controls, according to sources with knowledge of the matter. Mexico's federal tax administrative office, Servicio de Administraci??n Tributaria (SAT), will postpone the scheduled Jan. 17 implementation date because of concerns that the agency doesn't yet have the capacity to process anti-money laundering (AML) registrations and suspicious transaction reports from an estimated 400,000 companies newly subjected to the rules. "So far the SAT is having a lot of trouble overcoming its own stress tests because their systems are old and they are also understaffed," said...
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