The governor of Banxico, Victoria Rodríguez, in a conference to present the central bank's quarterly report, addressed the Trump administration's order to classify six Mexican cartels as terrorists. In response to concerns in the financial sector, she indicated that any additional risk would be managed through existing infrastructure.
Regarding possible modifications to Banxico's payment system, Rodríguez stated that they do not consider any changes necessary at this time. Despite the discussion in the Senate about a reform initiative related to the prevention of money laundering, the governor downplayed the potential legislative pressure, indicating that complaints from the banking sector would have little impact.
Possible reforms are driven not only by international pressures, such as those from Washington, but also by FATF evaluations scheduled for June. Some specialists do not anticipate favorable outcomes in Mexico's review. Nonetheless, Rodríguez sent a message of reassurance about the national financial system, insisting on the robustness of the regulatory framework against money laundering and terrorist financing.
In light of concerns regarding the impacts of designating the cartels as terrorists, the governor assured that Mexico meets FATF standards and strictly applies its regulations. She highlighted that banks monitor suspicious behaviors and notify the financial intelligence unit upon detecting suspicious customers.
