Mexico’s Ministry of Finance and Public Credit, through the Financial Intelligence Unit (UIF), coordinated with the US Department of the Treasury’s Office of Foreign Assets Control (OFAC) and Financial Crimes Enforcement Network (FinCEN) to identify and block members of a transnational criminal organisation involved in drug trafficking, money laundering and asset concealment. The joint work resulted in the designation of 19 targets and the identification of 10 additional individuals with financial activity in Mexico who will be added to Mexico’s List of Blocked Persons. The 19 designated targets comprise 10 individuals and nine companies. The UIF’s analysis, supported by information provided by US authorities, described the use of shell companies to simulate commercial activity, nominees to acquire real estate, digital platforms to manage assets, and international fund dispersion to reduce traceability, with reported links to activity in Canada, the United States, Colombia, Italy and the United Kingdom as well as Mexico. The UIF will also file complaints to the Attorney General’s Office for alleged operations with illicit proceeds and notify the Federal Fiscal Attorney’s Office regarding possible tax offences and the use of front companies.
Ministry of Finance & Public Credit (Mexico) 2025-11-19
Mexico's Ministry of Finance and Public Credit designates 19 targets and prepares to add 10 more to its Blocked Persons List in joint action with the US Treasury
Mexico’s Ministry of Finance and Public Credit, through the Financial Intelligence Unit, worked with the US Department of the Treasury to designate 19 targets linked to a transnational criminal organization involved in drug trafficking and money laundering. The operation identified 10 individuals and nine companies using shell companies and digital platforms to obscure financial activities across multiple countries. The UIF will file complaints with the Attorney General’s Office and notify the Federal Fiscal Attorney’s Office of potential tax offences.