IMF Staff Country Reports

Mexico: Report on the Observance of Standards and Codes: FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism

Publication Date:

December 27, 2005

Electronic Access:

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Summary:

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.

Series:

Country Report No. 2005/436

Subject:

Anti-money laundering and combating the financing of terrorism (AML/CFT) Crime Foreign exchange Legal support in revenue administration Money laundering Revenue administration Terrorism financing