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

December 27, 2005

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International Monetary Fund. "Mexico: Report on the Observance of Standards and Codes: FATF Recommendations for Anti-Money Laundering and Combating the Financing of Terrorism", IMF Staff Country Reports 2005, 436 (2005), accessed 12/19/2025, https://doi.org/10.5089/9781451825664.002

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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.

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

Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), confiscation proceeding, CR, criminal justice, criminal offence, customer contract, customer identification, customer identification file, customer transaction, default judgment, default judgment procedure, identification obligation, identification procedure, ISCR, Legal support in revenue administration, Money laundering, money laundering offence, sending financial institution, Terrorism financing

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