FATF Status

Mexico is not currently on the FATF List of Countries that have been identified as having strategic AML deficiencies

Compliance with FATF Recommendations

The last Follow-up Mutual Evaluation Report relating to the implementation of anti-money laundering and counter-terrorist financing standards in Mexico was undertaken by the Financial Action Task Force (FATF) in 2023. According to that Evaluation, Mexico was deemed Compliant for 10 and Largely Compliant for 24 of the FATF 40 Recommendations. It remains Highly effective for 0 and Substantially Effective for 4 of the Effectiveness & Technical Compliance ratings.

Corruption in Mexico is pervasive across both public and private sectors, with government officials often implicated in bribery and fraud. Despite the establishment of the National Anti-Corruption System and various reforms aimed at enhancing transparency and accountability, civil society argues that the government must intensify its efforts to combat corruption effectively. The OECD has highlighted the need for Mexico to prioritize the enforcement of foreign bribery laws, as the country has yet to prosecute any cases since ratifying the OECD Anti-Bribery Convention, raising concerns about the integrity of its export-driven economy.

In 2023, Mexico experienced a GDP growth of 3.1%, with an average growth rate of 2% from 1994 to 2023. The country remains a crucial trading partner for the United States, being its largest trading partner in goods and the second-largest export market, while also attracting significant foreign direct investment, particularly from the U.S.

Mexico is generally open to foreign direct investment (FDI) across most sectors, benefiting from its proximity to the U.S. and a large domestic market. However, recent regulatory changes, particularly in the energy sector, have raised concerns among investors regarding policy uncertainty and access to reliable energy sources. Despite these challenges, the U.S. remains the largest source of FDI in Mexico, with significant investments concentrated in northern states and key industries such as automotive and telecommunications.