Mexico launders a third of its GDP: Public Function

Although Mexico has a solid financial intelligence system, this does not translate into administrative-criminal activities, confiscation of property, crime instrument, dissolution of moral persons in cases where they engage in criminal conduct or supporting acts related to terrorism.
Although Mexico has a solid financial intelligence system, this does not translate into administrative-criminal activities, confiscation of property, crime instrument, dissolution of moral persons in cases where they engage in criminal conduct or supporting acts related to terrorism.

"Mexico, more or less, launders a sum equivalent to one third of its Gross Domestic Product (GDP) in the international financial laundering centers," informed the Secretary of Public Administration (SFP), Irma Eréndira Sandoval Ballesteros.

For his part, the head of the Financial Intelligence Unit (FIU) of the Ministry of Finance and Public Credit (SHCP), Santiago Nieto Castillo, said that "it is estimated that 70% of it goes to Latin American countries."

The aforementioned, both officials declared in the framework of the signing of the collaboration agreement against corruption involving the two agencies.

Castillo Nieto said that Mexico has become in recent years an ideal country for ghost companies, with benefits, even for political parties, which caused negative effects: political corruption, diversion of resources for electoral campaigns or use of public funds in tasks not destined for it.