FAFT - Mutual Evaluation of Mexico

The Financial Action Task Force (FATF), the Financial Action Task Force on Money Laundering in South America and the International Monetary Fund have jointly conducted an assessment of the implementation of anti-money laundering and counter-terrorist financing standards in Mexico. Mexico is the twenty-third jurisdiction to be examined in the FATF’s third round of mutual evaluations of its members. The report on the Mutual Evaluation of Mexico is available on the FATF website.

Canada - Penalties for Non-Compliance with PCMLTFA

Non-compliance with Part 1 of Canada's Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA) may result in criminal or administrative penalties. When there is extensive non-compliance or little expectation of future compliance, the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) may disclose the non-compliance to law enforcement. As of December 30, 2008, FINTRAC also has legislative authority to issue administrative monetary penalties (AMP) to reporting entities that are in non-compliance. A list of violations is available on the Justice Canada Website. For more information on administrative monetary penalties, consult FINTRAC's Frequently Asked Questions.