Mexico

Member since 2000

Since the 2018 assessment of Mexico’s measures to tackle money laundering and terrorist financing and their 2021 follow-up report, 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 their mutual evaluation and subsequent follow-up report. 

Today, Mexico is compliant on 10 of the 40 Recommendations and largely compliant on 22 of them. It remains partially compliant on 7 Recommendations, and non-compliant on 1 Recommendation.

 

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

12 May 2022

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.
Read the report 2021 Follow-Up Report
Head of delegation

Lead Ministry/Authority in the FATF Delegation

Ministry of Finance and Public Credit

Also member of

Observer

Co-operating and Supporting Nations (COSUNs) of

In 2018, The International Monetary Fund (IMF) conducted an assessment of Mexico’s anti-money laundering and counter-terrorist financing system, based on the 2012 FATF Recommendations, and using the 2013 Methodology.  The FATF adopted this report at its October 2017 Plenary.

The report concluded that Mexico has a good system to tackle money laundering and terrorist financing, but that it should step up efforts in pursuing launderers and confiscating their assets to mitigate the significant risks.

Mexico will report to FATF on the steps it has taken to address the deficiencies identified in the mutual evaluation. However, this follow-up process does not focus on effectiveness. The effectiveness of Mexico's actions to combat money laundering and terrorist financing will be assessed in the 5th round of mutual evaluations. 

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

Effectiveness

Ratings that reflect the extent to which a country's measures are effective. The assessment is conducted on the basis of 11 immediate outcomes, which represent key goals that an effective AML/CFT system should achieve.

Ratings that reflect the extent to which a country's measures are effective. The assessment is conducted on the basis of 11 immediate outcomes, which represent key goals that an effective AML/CFT system should achieve.

Mexico Mutual Evaluation - 2018

Follow-up report

IO1
SE
IO2
SE
IO3
ME
IO4
LE
IO5
ME
IO6
ME
IO7
LE
IO8
LE
IO9
ME
IO10
SE
IO11
SE

HE = high level of effectiveness   |   SE = substantial level of effectiveness    |   ME = moderate level of effectiveness   |   LE = low level of effectiveness

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