Mexico and U.S. Collaborate to Combat Transnational Financial Crimes
Mexico's finance ministry has signed a partnership with the U.S. IRS Criminal Investigation division to enhance financial intelligence sharing. This collaboration aims to track illicit financial flows related to transnational crimes and is designed without legally binding commitments while adhering to international standards.
In a significant move announced Thursday, Mexico's finance ministry revealed that its financial intelligence unit has entered a cooperation agreement with the U.S. IRS Criminal Investigation division. This agreement seeks to bolster the exchange of financial intelligence between the two nations.
The memorandum, signed on February 19, establishes a non-binding framework for collaboration, which aims to facilitate the smooth flow of financial intelligence. The primary focus of this collaboration is to enhance the ability to detect and analyze financial activities linked to cross-border crimes, such as illicit arms trafficking.
The initiative, aligned with international legal standards and Financial Action Task Force guidelines, is designed to prevent the misuse of the financial system and mitigate emerging risks. By doing so, it aims to undermine the financial capabilities of criminal organizations.
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