9 March 2018
Mexico needs to improve the rule of law in order to better combat financial crimes, Finance Minister said in an interview yesterday. The Financial Action Task Force criticized Mexico in a January report. The report said money laundering was not being investigated and prosecuted in a proactive and systematic fashion. It also said the number of prosecutions and convictions is very low. Mexico has the political will to tackle the issue, pointing to the arrest of powerful drug kingpins. Mexico is the top supplier of illegal drugs to the United States and both countries' authorities have been criticized by civil society groups for leaving drug gang finances largely intact.