Mexico and Argentina anti-money laundering updates

Mexico and Argentina are implementing new anti-money laundering (AML) and counter-terrorist financing frameworks centered on risk-management models.

In Mexico, the Ministry of Finance and Public Credit (SHCP) updated regulations for the Federal Law for the Prevention and Identification of Operations with Resources of Illicit Origin. These rules affect over 120,000 entities involved in vulnerable activities. The new model replaces uniform requirements with a risk-based approach, categorizing entities as low, medium, or high risk. Implementation will be gradual, with major requirements starting in 2027 and audits beginning in 2028. The regulations also mandate stricter identification of beneficial owners and the maintenance of client identification files for at least 10 years.

In Argentina, the Financial Information Unit (UIF) issued Resolution 93/2026 to reform the prevention scheme for real estate registries. Aligning with Financial Action Task Force (FATF) standards, the new regulations require registries to identify, monitor, and mitigate risks based on client profiles, activities, and geographic locations. High-risk operations will require reinforced measures, while low-risk cases may utilize simplified mechanisms. Registries must also appoint compliance officers and develop prevention manuals.