Mexico tightens anti-money-laundering rules amid U.S. pressure

  • Mexico’s legislature expanded anti-money-laundering laws and tightened company information requirements.
  • The revised rules require stricter due diligence and more details on controlling ownership.
  • President Claudia Sheinbaum installed a new head of Mexico’s financial intelligence unit.

Mexico is strengthening its fight against cartel money laundering after pressure from the U.S. and other international authorities. The legislature recently expanded anti-money-laundering laws, requiring stricter due diligence and more information about companies’ controlling ownership, among other measures. President Claudia Sheinbaum also installed a new head of Mexico’s financial intelligence unit, which collects information on suspicious transactions and reports it to law enforcement.

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