Mexican suspicious transaction reporting: legislation

Antonio Herrera Vargas, James Backhouse
2003 Journal of Money Laundering Control  
Telephone : +44 (0)20 7 955 7655 Fax : +44 (0)20 7 955 7385 E-Mail : Home Abstract. The purpose of this paper is to review the developments in the Mexican legislation regarding money laundering and suspicious transaction reporting. Mexico has a strategic geographical position with respect to drug trafficking and money laundering. Money laundering is a growing criminal offence and legislation against money laundering offence was introduced in the early 1990s. Mexican anti-money
more » ... ering legislation has evolved and changed during last decade to become the legal cornerstone for the fight against this criminal activity in the national context. Moreover, Mexico is now a full member of several international organizations and complies with international agreements, including the recommendations of the Financial Action Task Force (FATF). However, there are some loopholes in its anti-money laundering legislation which launderers take advantage of. The paper concludes with some recommendations for the Mexican Suspicious Transaction Reporting system to make the system more effective.
doi:10.1108/13685200310809644 fatcat:7nijlr35yreu3ly322n2iwlkce