Mexico's progress in strengthening measures to tackle money laundering and terrorist financing

Publication details

Language

English

Country

Mexico

Follow-up report to the mutual evaluation of Mexico - 2023

Filename
Follow-Up-Report-Mexico-2023.pdf
Size
2 MB
Format
application/pdf
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6 June 2023 - Overall, Mexico has made progress in addressing most of the technical compliance deficiencies identified in its 2016 Mutual Evaluation Report. The country has been re-rated on two recommendations:

  • Recommendation 18 is upgraded from Partially Compliant to Largely Compliant. 
  • Recommendation 24 is from Partially Compliant to Largely Compliant. 

Of the 40 Recommendations, Mexico currently has:

  • 10 Recommendations rated Compliant
  • 24 Recommendations rated Largely Compliant
  • 5 Recommendations rated Partially Compliant and 1 NC

The country will report back to the FATF on progress achieved in improving the implementation of its AML/CFT measures.

 

Ratings

Technical Compliance

Ratings which reflect the extent to which a country has implemented the technical requirements of the FATF Recommendations.

Mexico Follow-Up Report 2023

Follow-up report

R.1 - Assessing risk & applying risk-based approach
LC
R.2 - National cooperation and coordination
LC
R.3 - Money laundering offence
C
R.4 - Confiscation and provisional measures
LC
R.5 - Terrorist financing offence
LC
R.6 - Targeted financial sanctions related to terrorism & terrorist financing
C
R.7 - Targeted financial sanctions related to proliferation
C
R.8 - Non-profit organisations
LC
R.9 - Financial institution secrecy laws
C
R.10 - Customer due diligence
LC
R.11 - Record keeping
LC
R.12 - Politically exposed persons
C
R.13 - Correspondent banking
LC
R.14 - Money or value transfer services
LC
R.15 - New technologies
LC
R.16 - Wire transfers
C
R.17 - Reliance on third parties
C
R.18 - Internal controls and foreign branches and subsidiaries
LC
R.19 - Higher-risk countries
LC
R.20 - Reporting of suspicious transactions
PC
R.21 - Tipping-off and confidentiality
LC
R.22 - DNFBPs: Customer due diligence
PC
R.23 - DNFBPs: Other measures
NC
R.24 - Transparency and beneficial ownership of legal persons
LC
R.25 - Transparency and beneficial ownership of legal arrangements
LC
R.26 - Regulation and supervision of financial institutions
LC
R.27 - Powers of supervisors
LC
R.28 - Regulation and supervision of DNFBPs
PC
R.29 - Financial intelligence units
C
R.30 - Responsibilities of law enforcement and investigative authorities
LC
R.31 - Powers of law enforcement and investigative authorities
LC
R.32 - Cash couriers
PC
R.33 - Statistics
PC
R.34 - Guidance and feedback
LC
R.35- Sanctions
LC
R.36 - International instruments
LC
R.37 - Mutual legal assistance
C
R.38 - Mutual legal assistance: freezing and confiscation
C
R.39 - Extradition
LC
R.40 - Other forms of international cooperation
LC

C = compliant   |   LC = largely compliant     |   PC = partially compliant   |   NC = non-compliant

See also

Mexico's measures to combat money laundering and the financing of terrorism and proliferation

3 Jan 2018

Mexico has a good system to tackle money laundering and terrorist financing, but should step up efforts in pursuing launderers and confiscating their assets to mitigate the significant risks. This report provides a summary of the anti-money laundering and combating the financing of terrorism (AML/CFT measures in place Mexico as at the time of the on-site visit from 28 February to 16 March 2017.
Read more

Related materials

  • 12 May 2022

    Mexico's progress in strengthening measures to tackle money laundering and terrorist financing This follow-up report analyses Mexico's progress in addressing the technical compliance deficiencies identified in its 2018 Mutual Evaluation and since its 2021 follow-up report.

  • 15 Jun 2021

    Mexico's progress in strengthening measures to tackle money laundering and terrorist financing This follow-up report analyses Mexico's progress in addressing the technical compliance deficiencies identified in its 2018 Mutual Evaluation report.

  • 3 Jan 2018

    Mexico's measures to combat money laundering and the financing of terrorism and proliferation Mexico has a good system to tackle money laundering and terrorist financing, but should step up efforts in pursuing launderers and confiscating their assets to mitigate the significant risks. This report provides a summary of the anti-money laundering and combating the financing of terrorism (AML/CFT measures in place Mexico as at the time of the on-site visit from 28 February to 16 March 2017.

  • 17 Mar 2014

    Mutual Evaluation of Mexico: 7th Follow-up Report Mexico has made significant progress in addressing the deficiencies in its anti-money laundering / countering the financing of terrorism regime. As result of this progress, Mexico has been removed from the regular follow-up process. The February 2014 follow-up report to the mutual evaluation of Mexico contains a detailed description and analysis of the actions taken by Mexico to remove the deficiencies identified in the 2008 mutual evaluation report.

  • 17 Oct 2008

    Mutual Evaluation of Mexico The Financial Action Task Force (FATF), the Financial Action Task Force on Money Laundering In South America (GAFISUD) and the International Monetary Fund (IMF) have jointly conducted an assessment of the implementation of anti-money laundering and counter-terrorist financing (AML/CFT) standards in Mexico.

FATF Recommendations

The FATF Recommendations are the internationally endorsed global standards against money laundering and terrorist financing: they increase transparency and enable countries to successfully take action against illicit use of their financial system.
Read more

Mutual Evaluations

The FATF conducts peer reviews of each member on an ongoing basis to assess levels of implementation of the FATF Recommendations, providing an in-depth description and analysis of each country’s system for preventing criminal abuse of the financial system
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FATF Methodology for assessing compliance with the FATF Recommendations and the effectiveness of AML/CFT systems

The FATF Methodology for assessing compliance with the FATF Recommendations and the effectiveness of AML/CFT systems sets out the evaluation process.
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