On 15 June, FATF published the 3rd enhanced follow-up report following the mutual evaluation review of Mexico’s AML/CFT framework in 2018. 

Mexico has been in an enhanced follow-up process since 2018 and has been uprated for a number of FATF Recommendations: 8 – Non-profit organisations, from partially compliant to largely compliant; 10 – CDD, from partially compliant to largely compliant; 12 – PEP, from partially compliant to compliant; 16 – Wire transfers, from partially compliant to compliant;
17 – Reliance on third parties, from partially compliant to compliant. 

The report also looks at whether Mexico’s measures meet the requirements of FATF Recommendations 2, 7, 15, 18 and 21, which changed since their mutual evaluation and FATF has agreed to upgrade the rating of Recommendation 15 (New technologies), to largely compliant. 

Therefore, Mexico is compliant on 8 of the 40 FATF Recommendations and largely compliant on 22.  It remains partially compliant on 9 Recommendations, and non-compliant on 1 Recommendation.  Mexico will continue to report back to the FATF on its progress.


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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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