Financial Crimes and Terrorism Financing Threaten Mexico’s Stability, Warns Treasury Official
Growing Concerns Over Illicit Activities in Mexico
The US Department of the Treasury has sounded the alarm over the growing threat of financial crimes and terrorism financing in Mexico, warning that these illicit activities could undermine the country’s stability. According to Assistant Secretary of the Treasury for Terrorist Financing and Financial Crimes Elizabeth Rosenberg, both countries face significant challenges in combating the trafficking of narcotics, including deadly synthetic opioids such as fentanyl, and their precursors.
US-Mexico Cooperation Key to Combating Threats
The US and Mexico are working together to combat these threats through shared efforts and information sharing. The Strategic Dialogue on Illicit Finance (SDIF) is a key bilateral forum aimed at advancing anti-money laundering and countering terrorism finance goals under the US-Mexico Bicentennial Framework.
Priorities Discussed with Financial Institutions
Treasury officials also met with financial institutions from both countries to discuss priorities, including:
- Combating corruption
- Fostering public-private partnerships to counter illicit finance
- Tackling drug, arms, and human trafficking
Continued Cooperation Essential to Prevent Undermining of Stability
The meetings highlighted the need for continued cooperation between the two nations to combat these threats and prevent them from undermining Mexico’s stability. Rosenberg emphasized that financial crimes and terrorism financing are major concerns that require a sustained effort from both governments to address.
Strong Partnership in Combating Illicit Finance
The SDIF is a testament to the strong partnership between the US and Mexico in combating illicit finance, and the Treasury officials’ meetings with Mexican counterparts will help strengthen this collaboration in the fight against financial crimes and terrorism financing.