Mexico

This report assesses the Observance of Standards and Codes on the Financial Action Task Force (FATF) Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) for Mexico. The report highlights that Mexico has removed specific exemptions to customer identification obligations, implemented online reporting forms and a new automated transmission process for reporting transactions to the financial intelligence unit. Financial institutions with a reporting obligation (reporting institutions) now require occasional customers performing transactions equivalent to or exceeding US$3,000 in value to be identified so that the transactions can be aggregated daily.Combating the financing of terrorism;Reports on the Observance of Standards and Codes;money laundering, terrorist financing, law enforcement, terrorist, money remitters, terrorism, foreign exchange offices, customer identification, financing of terrorism, legal assistance, suspicious transactions, judicial authorities, supervisory authorities, financial intelligence unit, terrorist assets, criminal investigation, law enforcement agencies, identification obligations, terrorist financing cases, criminal liability, secrecy laws, terrorist financing measures, enforcement authorities, money laundering offence, confiscation proceedings, competent authorities, legal assistance requests, information exchange, international cooperation, financial secrecy, drug trafficking, transaction reports, identification procedures, customer identification requirements, criminal offence, law enforcement authorities, wire transfer, beneficial owners, shell corporations, domestic terrorism, suspicious transaction, reporting forms, legal entity, foreign branches, securities firms, monetary instruments, customer identification information, legal entities, supervisory authority, criminal activity, account number, penal code, record keeping requirements, cross border transactions, criminal justice measures, bank secrecy laws, illegal activities, large cash transactions, money laundering cases, beneficial ownership, compliance officer, administrative sanctions, alternative remittance, due diligence, money laundering issues, border transactions, criminal justice, counter terrorist financing, cash transactions, domestic legislation, terrorist organisations, criminal offense, regulatory authorities, unusual transactions, criminal law enforcement, confiscating assets, reporting obligations, reporting requirements, customer identification policies, predicate offence, federal investigations, financial intermediaries, anti-terrorism, money laundering charges, investigative techniques, international conventions, assessment methodology, criminal matters, criminal intelligence, criminal proceeds, customer identification procedures, good faith, complete originator information, suspicious transaction reports, terrorists, terrorist act, confiscated assets, money laundering investigations, customer transactions, narcotic drugs, foreign authorities, internal controls, illegal proceeds, business relations, customer accounts, international treaties, transaction reporting, transaction reporting requirements, cash transaction, internal procedures, intelligence information, public safety, insurance intermediaries