Mexico's Ministry of Finance and Public Credit, through its Financial Intelligence Unit, signed an information sharing agreement with the Union of Mexican Financial Institutions to strengthen cooperation in identifying, preventing and detecting illicit finance. The framework covers risk mitigation, intelligence development, coordination between authorities and the financial sector, and work on legal and regulatory improvements. Cooperation will focus on identifying sector vulnerabilities, adopting best practices and developing indicators, typologies, alerts and strategic analysis tools. Coordination will extend across sectors and include national and international cooperation. The institutions may conduct studies, develop methodologies, convene working groups and formulate recommendations to address emerging risks. Training, technical assistance and exchanges of experience may also support institutional capacity and improvements to the regulatory framework.
Mexico's Ministry of Finance and Public Credit signs information sharing agreement to address illicit finance risks
Mexico's Ministry of Finance and Public Credit, acting through its Financial Intelligence Unit, signed an information sharing agreement with the Union of Mexican Financial Institutions to strengthen cooperation against illicit finance. It provides a framework for assessing sector vulnerabilities, developing intelligence tools and improving coordination, alongside potential joint research, training and recommendations on legal and regulatory improvements.