MEXICO CITY — The Mexican government has noted serious shortcomings in its fight against corruption in a classified report seen by Reuters, which was prepared ahead of an international evaluation of the country’s efforts to combat money laundering.
The undated government report estimated that the drug trade, tax fraud and other crimes were worth at least 1.13 trillion pesos ($58.5 billion USD) a year in Mexico, with all of that money susceptible to money laundering.
In October last year the government published a much shorter official version of the findings, which broadly described the risks of money laundering without going into detail.
The sum of illicit funds identified in the classified report was equivalent to 6.6 percent of the Mexican economy in 2014, when the data was compiled. It did not include an estimate of the value of corruption and several other crimes.
The 321-page report was prepared ahead of an evaluation of the country’s performance in preventing money laundering by the Financial Action Task Force (FATF), a global group of government agencies dedicated to tackling money laundering.
“The view is that the risk represented by illicit funds susceptible to money laundering in Mexico generated within the jurisdiction is HIGH,” the report said, capitalizing the word.
The government said on Thursday the FATF evaluation, which is not yet public, showed Mexico had made “significant” progress in combating money laundering since the last evaluation in 2008. The FATF did not immediately reply to a request for comment.
The Mexican government report is the first of its kind, according to people familiar with it, and was assembled from official data and independent research.
Part of a broader investigation into illicit wealth in Mexico, the government concluded that Mexico needed “more efficient mechanisms” to prevent graft, including new laws that would complement the national anti-corruption architecture.
To read complete article click here.
more recommended stories
New Arrivals on Netflix Mexico in December
December looks great on Netflix. The.
UNAM promotes creation of hummingbird gardens in order to improve ecology
Hummingbirds have a great ecological importance.
Mérida’s soccer team was bought years ago with money from the Sinaloa Cartel
Tirso ‘El Futbolista‘ Martinez Sanchez, a.
Five Haciendas, five different worlds in Yucatán and Campeche
The taste, history and culture of.
Mérida wins national award for “Paseo de las Ánimas”
Due to the maintaince and promotion.
Why Trump Appears When You Google “Idiot”?
Why is Donald Trump dominating Google.
U.S. Secretary of State Mike Pompeo says new Mexican government ‘great’ on immigration
WASHINGTON (Reuters) – On Wednesday December.
Wedding Planners from the United States and Canada fall in love with Yucatan
Because of its cultural, gastronomic, artistic.
Make Your Play in Yucatán
Yucatán Peninsula casinos and hotels are.
Will the Maya Train project put the jaguar population in risk?
Businessman José María Riobóo name was.