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

FUR-Mexico-2021

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15 June 2021 - Since the 2018 assessment of Mexico’s measures to tackle money laundering and terrorist financing, the country has taken a number of actions to strengthen its framework.

Mexico has been in an enhanced follow-up process following the adoption of its mutual evaluation in 2018 . In line with the FATF Procedures for mutual evaluations, the country has reported back to the FATF on the action it has taken since then. Consequently, to reflect Mexico’s progress, the FATF has now re-rated the country on the following Recommendations:

8 – Non-profit organisations, from partially compliant to largely compliant
10 – Customer due diligence, from partially compliant to largely compliant
12 – Politically exposed persons, from partially compliant to compliant
16 – Wire transfers, from partially compliant to compliant
17 – Reliance on third parties, from partially compliant to compliant

The report also looks at whether Mexico's measures meet the requirements of FATF Recommendations 2, 7, 15, 18 and 21, which changed since their mutual evaluation. The FATF agreed to upgrade the rating of Recommendation 15 (New technologies), to largely compliant.

Today, Mexico is compliant on 8 of the 40 Recommendations and largely compliant on 22 of them. It remains partially compliant on 9 Recommendations, and non-compliant on 1 Recommendation. .

Mexico will continue to report back to the FATF on its progress.

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