The Bank of Mexico (Banxico) has announced the adoption of new technologies to prevent money laundering, following accusations against three financial institutions. Governor Victoria Rodríguez Ceja emphasized that the case poses no systemic risk to the Mexican financial system.
The Bank of Mexico (Banxico) is implementing new technologies to strengthen money laundering prevention, focusing on due diligence processes, verifications, and risk controls for clients and users. This measure comes in the context of recent accusations against three financial institutions: CIBanco, Intercam Banco, and Vector Casa de Bolsa.
Victoria Rodríguez Ceja, Banxico's governor, stated that no similar procedures are being carried out against other sector entities. She emphasized that the situation of these institutions stems from particular factors of each and does not constitute a generalized phenomenon. Their participation in the financial system is low, avoiding systemic risk.
Banxico stated that the case poses no risk to the stability of the Mexican financial system and that close vigilance is maintained in coordination with competent authorities. The institution is providing detailed follow-up from the origin of the issue and will continue to act, if necessary, with the legal tools available to preserve financial stability.
Rodríguez Ceja noted that the Secretariat of Finance and the National Banking and Securities Commission (CNBV) have implemented measures to ensure the operational continuity of the involved institutions and mitigate possible adverse effects. She also highlighted that the Mexican financial system remains solid, complying with Basel III guidelines on capital and liquidity, and operating under international standards of the Financial Action Task Force (FATF).
The governor also pointed out the existence of efficient communication channels between authorities, financial institutions, and international counterparts, especially with U.S. homologues. Banxico assured that financial authorities remain vigilant and prepared to act in any eventuality.
