The Financial Crime Country Threat Assessment for Mexico is now available. To download the Mexico Financial Crime Country Threat Assessment 2022 click HERE: Mexico Sept 2022 FINAL
Mexico is both a G20 and FATF member country with moderate to high threats (31/100) and a Moderate Response (50/100) with an overall Moderate risk (41/100) (based on the FCN Financial Crime Country Risk Model).
Mexico’s last NRA was published in 2020, which focussed, to no one’s surprise on organised crime including drug trafficking gangs and corruption being the key threats. OCGs operating in Mexico pose a major threat not only to Mexico but are highlighted elsewhere including in the USA and in Europe, with the threat from Mexican drug trafficking activities very significant.
The USA also highlights OCG involvement in people smuggling through Mexico and into the USA, whereas Mexico highlight’s the problems from arms trafficking coming in the opposite direction, increasing gang violence.
The Mexico FATF MER was published in January 2018. The MER concluded that most of the key authorities have a good understanding of ML and TF risks. Effectiveness ratings and scores though were low though with just 4 SE positive scores, 4 ME & 3 LE ratings, including on ML convictions and asset recoveries. ML convictions were just 10 (2016), 72 HT convictions (2021), 0 foreign bribery convictions (2021)and US$333 million seized and US$2 million recovered to 2016.
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This assessment underscores a critical and often underappreciated facet of national security: the deep entanglement of traditional organized crime with the global financial system. The quantification of the threat and response is particularly valuable, as it highlights the specific gap between the moderate-to-high threat level and the moderate defensive response. It is a stark reminder that the financial pipelines of these OCGs are as much a part of the infrastructure of crime as the physical trade routes, and combating them requires an equally sophisticated, internationally coordinated financial intelligence effort. A crucial read for anyone in compliance, risk management, or international… Read more »