Mexico implements new anti-money laundering regulations

New General Rules for the Federal Law for the Prevention and Identification of Operations with Resources of Illicit Origin (LFPIORPI) have entered into force. Applicable starting November 30, these regulations require companies with high cash flows to automate their compliance controls to prevent money laundering.

Legal specialists warn that sectors such as real estate, leasing, loans, corporate services, art, jewelry, and gambling are particularly vulnerable. While certain businesses like universities, schools, and hotels handle large amounts of cash, they are not automatically classified as obligated entities unless they meet specific criteria outlined in Article 17 of the law.

To prepare for audits by the Tax Administration Service (SAT) and the Financial Intelligence Unit (UIF), companies are urged to establish traceable financial operation routes and integrate client files. Furthermore, Article 32 prohibits settling operations in cash that exceed established limits. New reporting formats are scheduled to be implemented in 2027.