Mexican Federal Law on the Prevention and Identification of Operations with Funds of Illicit Origin
As a follow-up to the Mexican Federal Law on the Prevention and Identification of Operations with Funds of Illicit Origin “Mexican Law Against Money Laundering” that entered into effect in Mexico on July 17, 2013, please be advised that on August 15, 2013, the Ministry of Finance and Public Credit published in the Official Gazette of the Federation the Regulations of the Mexican Federal Law on the Prevention and Identification of Operations with Funds of Illicit Origin (Reglamento de la Ley Federal para la Prevencion y Identificacion de Operaciones con Recursos de Procedencia Ilicita). The provisions of the abovementioned regulation will be effective as of September 1, 2013. The Law and its regulation as well as the measures, procedures and the rules of general character to be established will be aimed in order to gather useful information and elements in order to prevent, investigate and prosecute crimes from operations with funds of illegal origin, the financial structure of criminal organizations and to avoid the use of these resources for its finance.
For further reference please go to http://dof.gob.mx/nota_detalle.php?codigo=5310763&fecha=16/08/2013 to view the Spanish version of said regulation.
Ernesto Velarde Danache, Inc.