The president of the Banks Association of Mexico (ABM), Emilio Romano Mussali, said there are no more banking institutions linked to money laundering operations.
“The American and Mexican authority in meetings that we have had informed us that derived from this specific research these are two banks and this stock market, then there is no more banks or stock market houses to mention,” he said.
The US Treasury pointed to the Cibanco and Interm banks, as well as the Vector Bolsa house, money laundering activities related to drug trafficking.
“Mexico has a very robust banking system, as well as the regulations are already solid and the avant -garde in the combat of money laundering,” he said after meeting with the Secretary of the Treasury, Edgar Amador.
Lee: EU gives extension to Inter -Cam, Cibanco and Vector; It highlights intervention by the Government of Mexico to combat money laundering
Emilio Romano declared that the Mexican authorities intervened in a precautionary way the operations of the firms indicated by the US, and that for the first time it was not due to a solvency or liquidity problem, but that it was a subject of caution and for suspected money laundering.
He added that Mexican regulatory authorities have clarified that US restrictions on these three entities apply exclusively for financial organizations operating in the United States.
“These two entities are those that apply the measure, and this measure implies that US companies cannot operate with these two banks as of July 21, which was the first date determined by Finnn,” Treasury agency that today gave an extension to September 4.
As of September 4, Banks and EU companies must stop making transfers and operations with Cibanco, Interm and Vector Casa de Bolsa.
“For the purpose of Mexican banks, Mexican natural and moral persons and any other entity, which is not included in this definition, there is no restriction either now or within a month, or 2 months, or 3 months,” he said.
The only restrictions are by decision of the banks or the users who want or not to operate with Cibanco, Interm and Vector Casa de Bolsa, he clarified. .
Lee: CIBANCO and INTERM FIDUCIARY BUSINESS MEETING Reduce operational risks: Moody’s
He said that Mexico has the best global legislation in terms of prevention and fighting money laundering.
“Banks constantly have complete equipment to meet the client, analyze transactions, report suspicious transactions, since we have the obligation to do so to the authorities,” he said.
