Mexico: Report on the Observance of Standards and Codes-FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT)
IMF Staff Country Reports, January 3, 2018
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- Mexico: Report on the Observance of Standards and Codes-FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT)
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Bibliographic details
- Published: January 3, 2018
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484335543.002
Overview
- This report evaluates the observance of standards and codes on Financial Action Task Force recommendations for anti-money laundering and combating the financing of terrorism (AML/CFT) in Mexico.
- Mexico has a mature AML/CFT regime, with a correspondingly well-developed legal and institutional framework.
- The financial sector demonstrates a good understanding of the primary money laundering threats from organized crime groups and associated criminal activities as well as tax crimes, but the recognition of corruption as a main threat is uneven.
- Mexico has a solid legal and institutional framework to seek and provide mutual legal assistance and extradition.
- The authorities frequently rely on other forms of international cooperation to exchange information with other countries.
Key Findings
- Mexico’s AML/CFT regime is characterized as mature and well-developed.
- Financial sector awareness:
- Good understanding of primary money laundering threats from organized crime groups and associated criminal activities.
- Good understanding of tax crimes as a money laundering threat.
- Uneven recognition of corruption as a main threat.
- Legal and institutional frameworks:
- Solid mechanisms in place to seek and provide mutual legal assistance and extradition.
- Frequent use of other international cooperation channels to exchange information.
Subjects and Keywords (as listed)
- Subjects: Anti-money laundering and combating the financing of terrorism (AML/CFT), Corruption, Crime, Institutional arrangements for revenue administration, Legal support in revenue administration, Revenue administration, Tax evasion
- Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), BO identification regime, Central America, CFT, CFT General rule, CFT obligation, CFT policy, CFT requirements, Corruption, CR, financial intelligence unit, ISCR, Legal support in revenue administration, Mexican AML, Mexico, regime, South America, Tax evasion
Content in this bundle
- Country Report