The Senate of Mexico has presented a draft opinion to reform the Law on Prevention of Money Laundering and Financing of Terrorism, with the aim of strengthening the fight against organized crime and ensuring the financial stability of the country. The reform would involve coordination between the Ministry of Finance and the National Guard to enforce this law, as well as the creation of specialized units in the federal entities to receive information about illicit financial operations and terrorism financing.
Senator Javier Corral Jurado has mentioned that this reform could be used discriminatorily for political purposes, including classifying as illicit operations behaviors that are currently reviewed and sanctioned by the electoral authority. He also criticized the consideration of individuals who have held positions at the national and international level, as well as their relatives, as politically exposed, which could lead to a persecutory reform instead of effectively combating corruption and financial crimes.
The opinion seeks to comply with the recommendations of the Financial Action Task Force (FATF) in order to prevent operations with illicit resources and the financing of terrorism, which would allow the country to avoid possible international sanctions. It has been worked on in conjunction with the Financial Intelligence Unit (FIU) and the Attorney General's Office (FGR) to strengthen the document presented in the Senate Justice Commission. The importance of not leaving gaps in the drafting has been emphasized to avoid possible misinterpretations that could harm sectors such as religious, political associations, or unions.
