Key Findings Summary:
- Mexico has a mature AML/CFT regime, with a correspondingly well-developed legal and institutional framework.
- Most of the key authorities have a good understanding of ML and terrorist financing (TF) risks, and there is generally good policy cooperation and coordination.
- Financial intelligence and other relevant information are made available by the financial intelligence unit (FIU) and accessed on a regular basis by competent authorities.
- Overall, Mexico has a solid institutional and legal framework in place to investigate and prosecute TF and impose targeted financial sanctions (TFS).
- Confiscation of proceeds and instrumentalities is not systematically pursued as a policy objective, and not commensurate with the ML/TF risks.
- A serious concern across all sectors is that beneficial owners are being identified only to a limited extent, systematically weighing on entities’ effectiveness in assessing and managing ML/TF risks.
- The low conviction rate also points to a low degree of effectiveness in the way in which investigations are initiated.
- Proceeds and instrumentalities of crime are rarely confiscated, and are not pursued as a policy objective.
The International Monetary Fund (IMF) conducted an assessment of Mexico’s anti-money laundering and counter-terrorist financing (AML/CFT) system, based on the 2012 FATF Recommendations, and using the 2013 Methodology. The FATF adopted the resulting report at its Plenary meeting in November 2017. The assessment is a comprehensive review of the effectiveness of Mexico's AML/CFT system and its level of compliance with the FATF Recommendations. Mexico has a mature AML/CFT regime, with a correspondingly well-developed legal and institutional framework. The country faces a significant risk of money laundering, stemming principally from activities most often associated with organized crime, such as drug trafficking, extortion, corruption and tax evasion. Overall, Mexico has good AML/CFT preventive measures, mitigating measures for terrorism financing, and efficient international cooperation channels.