Prevention of Money Laundering and of the Financing of terrorism in Latin America

Posted on September 23, 2016 • Filed under: Crime, Latin America News, Mexico

Economic Comission for Latin America and the Caribbean. E mail:
Money Laundering and Financial Risk Management in
Latin America, with Special Reference to Mexico*
Lavado de dinero y manejo de riesgos financieros en
América Latina, con especial referencia a México
Willy Zapata Sagastume,** Juan Carlos Moreno-Brid***
and Stefanie Garry*

This paper reviews the current status of the international fight against money laundering
and the financing of terrorism, highlighting the importance of its prevention for economic
and financial stability in Latin America and the Caribbean. It reviews Latin American and
Caribbean countries’ compliance with the Financial Action Task Force (

Recommendations, and analyzes the region’s performance with respect to their third
round Mutual Evaluation Reports. The case study of Mexico provides specific insight into
the country’s reforms and policies to combat these financial sector operational risks.


In Latin America and the Caribbean, the most important efforts in the
identification of methodologies used by money launderers have been made by
gafisud and the cfatf (Financial Action Task Force of South America, 2006;
2008; Caribbean Financial Action Task Force, 2008). These collective efforts
represent an important input into the definition of guidelines for the competent
authorities in order to protect their respective jurisdictions from the possibility
that their systems could be used for money laundering or the financing of
terrorism. READ PAPER

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