Mexico completes FATF mutual evaluation on money laundering prevention, Digi Mart USA News (Mexico): The Mutual Evaluation process of the Financial Action Task Force (FATF, or GAFI in Spanish) concluded last Friday, but the results, including ratings on technical compliance and the effectiveness of Mexico’s anti-money laundering regime, will be formally published on December 17, the Secretariat of Finance and Public Credit (SHCP) reported.
In a statement, the ministry said its Financial Intelligence Unit (UIF) coordinated the evaluation work, gathering information and technical evidence to demonstrate the country’s progress before the FATF. The process involved an interagency effort across the Mexican state.
Participating institutions included the SHCP and the UIF, the Bank of Mexico, the National Guard, the Secretariat of National Defense, the National Banking and Securities Commission, the Attorney General’s Office, the Superior Audit Office of the Federation, the Secretariat of Foreign Affairs, and the National Intelligence Center, the ministry said.
The government said it reaffirms its commitment to protect the integrity of the financial system by adopting the FATF’s recommended actions through joint work between national institutions and the private sector, with the aim of safeguarding the assets of Mexican families.
The SHCP said Mexico implemented an international outreach strategy to present progress, respond to observations from other delegations and multilateral bodies, and strengthen support for the country, including meetings with delegations from FATF member countries. The evaluation also required coordination with the financial and non-financial sectors, government agencies and private initiative.
