Federal Act to Prevent and Identify Transactions Involving Illicit Funds

January, 2013

On October 17, 2012, a decree issuing the Federal Act to Prevent and Identify Transactions Involving Illicit Funds (the “Act”) was published in the Official Federal Gazette. The law will become effective as from nine months after its publication that is on July 17, 2013.

The Law sets forth a prohibition regime for certain activities, as well as procedures and rules to identify and report certain acts and transactions that could be used for money laundry or terrorism financing.

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For additional information contact:

Luis Burgueño, Partner:
lburgueno@vwys.com.mx

Andres Nieto, Partner:
anieto@vwys.com.mx
 

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