Federal Law for the Prevention and Identification of Transactions Involving Funds of Illicit Origin

Federal Law for the Prevention and Identification of Transactions Involving Funds of Illicit Origin

This past October 17, 2012, the decree enacting the Federal Law for the Prevention and Identification of Transactions Involving Funds of Illicit Origin (the "Law") was published in the Federal Official Gazette. The law will take effect 9 months after its publication, that is, on July 17, 2013.

The Law establishes a regime prohibiting certain activities, as well as processes for the identification and reporting of certain acts and transactions that could be used for money laundering or the financing of terrorism. Please click here. For additional information, contact: Luis Burgueño, Partner: lburgueno@vwys.com.mx Andrés Nieto Sánchez de Tagle, Partner: anieto@vwys.com.mx

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