HomeNewsBriefMexico Passes Money Laundering Law
BRIEF

Mexico Passes Money Laundering Law

MERIDA INITIATIVE / 29 APR 2011 BY INSIGHT CRIME EN

On April 29 the Mexican Senate approved an anti-money laundering bill, reports OEM. The law will set penalties of up to 16 years for people and organizations that handle illegal proceedings and fail to report it to the proper authorities. It will also put in place restrictions on commercial transactions that include up front payments of large amounts of money, particularly real estate and objects of art. Additionally, credit card companies, casinos, insurance companies, as well as banks and other such businesses will be obliged to establish anti-money laundering procedures to alert authorities. This controversial measure aims to reduce the maneuverability of organized crime. A senator from the ruling party, Partido de Accion Nacional (National Action Party - PAN), stated that $25 billion dollars is handled by drug trafficking every year in Mexico alone.

share icon icon icon

Was this content helpful?

We want to sustain Latin America’s largest organized crime database, but in order to do so, we need resources.

DONATE

What are your thoughts? Click here to send InSight Crime your comments.

We encourage readers to copy and distribute our work for non-commercial purposes, with attribution to InSight Crime in the byline and links to the original at both the top and bottom of the article. Check the Creative Commons website for more details of how to share our work, and please send us an email if you use an article.

Was this content helpful?

We want to sustain Latin America’s largest organized crime database, but in order to do so, we need resources.

DONATE

Related Content

CHINA AND CRIME / 9 DEC 2022

The rise of synthetic drugs, in particular fentanyl and methamphetamine, has changed the landscape of opportunity for drug traffickers in…

BRAZIL / 7 FEB 2023

A new report points out how the success rate in fighting money laundering across Latin America varies widely from country…

COCAINE / 30 AUG 2022

Cocaine in Australia remains difficult to access, with traffickers either selling low-quality or entirely fake doses.

About InSight Crime

THE ORGANIZATION

Escaping Barrio 18

27 JAN 2023

Last week, InSight Crime published an investigation charting the story of Desafío, a 28-year-old Barrio 18 gang member who is desperate to escape gang life. But there’s one problem: he’s…

THE ORGANIZATION

Europe Coverage Makes a Splash

20 JAN 2023

Last week, InSight Crime published an analysis of the role of Amsterdam’s Schiphol Airport as an arrival hub for cocaine and methamphetamine from Mexico.  The article was picked up by…

THE ORGANIZATION

World Looks to InSight Crime for Mexico Expertise

13 JAN 2023

Our coverage of the arrest of Chapitos’ co-founder Ovidio Guzmán López in Mexico has received worldwide attention.In the UK, outlets including The Independent and BBC…

THE ORGANIZATION

InSight Crime Shares Expertise with US State Department

16 DEC 2022

Last week, InSight Crime Co-founder Steven Dudley took part in the International Anti-Corruption Conference organized by the US State Department’s Bureau of Democracy, Human Rights, & Labor and…

THE ORGANIZATION

Immediate Response to US-Mexico Marijuana Investigation

9 DEC 2022

InSight Crime’s investigation into how the legalization of marijuana in many US states has changed Mexico’s criminal dynamics made a splash this week appearing on the front page of…