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Date: April 30, 2024 Tue
Time: 12:18 am
Time: 12:18 am
Results for money-laundering
1 results foundAuthor: Financial Action Task Force Title: Mutual Evaluation Report: Anti-Money Laundering and Combating the Financing of Terrorism. Mexico Summary: The Financial Action Task Force (FATF), the Financial Action Task Force on Money Laundering In South America (GAFISUD) and the International Monetary Fund (IMF) have jointly conducted an assessment of the implementation of anti-money laundering and counter-terrorist financing (AML/CFT) standards in Mexico. - Mexico has made good progress in developing its system for combating ML and TF since its last assessment by the FATF in 2004. The laws criminalising ML and TF do not however fully meet international standards, and there is scope to significantly improve their implementation. - Laws and procedures do not adequately provide for the freezing without delay of terrorist funds or other assets of persons designated in accordance with United Nations Security Council Resolutions. - Co-ordination arrangements amongst relevant government authorities have been strengthened recently but need to be further developed. Further resources are needed for some authorities. - The FIU has strengthened its financial intelligence infrastructure and capacity. It does not currently have direct access to criminal records and the number of staff is low relative to its tasks. - AML/CFT preventive measures are comprehensive, contain risk-based elements, and are being implemented across principal sectors of the financial system. Nonetheless, AML/CFT regulations are still evolving, particularly in non-deposit taking sectors. - All supervisory authorities are implementing fairly comprehensive on-site AML/CFT supervision, though this could benefit from more risk-based processes. - Trust services are the only DNFBP for which AML/CFT measures are in place. Also, no review has been conducted of the non-profit sector to support adoption of measures to prevent unlawful use of legal persons for ML and TF. - Mexican authorities have been co-operating effectively with other countries, particularly in the area of mutual legal assistance and extradition involving ML and related crimes. Details: Paris: FATF, 2008. 338p. Source: Internet Resource: Accessed November 11, 2015 at: http://www.fatf-gafi.org/media/fatf/documents/reports/mer/MER%20Mexico%20ful.pdf Year: 2008 Country: Mexico URL: http://www.fatf-gafi.org/media/fatf/documents/reports/mer/MER%20Mexico%20ful.pdf Shelf Number: 137228 Keywords: Financial CrimesMoney-LaunderingTerrorismTerrorist Financing |