Mexico’s banking lobby is recommending its members go beyond current regulations to fight illicit financing after the US cracked down on some banks in the country for allegedly aiding drug traffickers.
Mexican lenders should commit to an 11-point plan aimed at “closing the gap” between US and Mexican regulations while also implementing stricter controls on international transfers, remittances and big cash withdrawals, Emilio Romano , the head of the Asociacion de Bancos de Mexico, or ABM, said at a press conference on Wednesday.
Mexico Banks Push New Illicit Finance Rules in Wake of US Orders
