The governor of the Bank of Mexico (Banxico), Victoria Rodríguez Ceja, stressed that Mexico has a solid regulatory framework regarding money laundering prevention and terrorist financing, so she ruled out changes in the legislation after the recent designation of six cartels Mexicans as terrorist groups by the US government.
He recalled that the country is a member of the International Financial Action Group (GAFI) and meets international standards on the matter.
“For years, the Mexican bank monitors the lists of people and morals (entities) suspected of Illicit Activities of the OFAC (US Foreign Assets Control Office),” he explained during the presentation of the latest quarterly report of 2024.
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He explained that, in case of detecting related operations, it acts immediately, reporting to the Financial Intelligence Unit, which includes the blockade of the accounts involved.
In this regard, he assured that it is not considered necessary to modify current regulations on payment systems.
The governor also addressed the issue of remittances, noting that these transactions go through multiple controls in different jurisdictions to mitigate money laundering risks.
Rodríguez Ceja said that practically the whole, 99% of remittances, is carried out through electronic transfers, which facilitates the monitoring and control of these flows.
The governor also recalled Banxico’s commitment to price stability and financial resilience, while notifying a second cut to the consecutive interest rate of 50 base points, given a new stage to stop inflation to the objective of 3 %.
With EFE information
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