Strengthening Cooperation: US Treasury Officials Meet with Mexico’s Anti-Financial Crimes Unit
Mexico City - In an effort to combat the growing threat of financial crimes and terrorism financing, senior officials from the United States Department of the Treasury held high-level talks with their Mexican counterparts in Mexico City last week.
Combating Illicit Finance Threats
Assistant Secretary of the Treasury for Terrorist Financing and Financial Crimes Elizabeth Rosenberg and Acting Director of the Financial Crimes Enforcement Network Himamauli Das met with top government officials from Mexico’s Unidad de Inteligencia Financiera (UIF) to discuss the illicit finance threats facing both nations. The talks focused on ways to strengthen cooperation between the two countries in combating these threats, including:
- Trafficking of narcotics such as fentanyl and its precursors
- Money laundering and terrorist financing
Strengthening Cooperation through the Strategic Dialogue on Illicit Finance (SDIF)
The meeting was part of the SDIF, a key bilateral forum aimed at advancing anti-money laundering and countering terrorism finance goals outlined in the US-Mexico Bicentennial Framework. The SDIF is a critical platform for senior officials from both countries to discuss ways to strengthen cooperation and combat illicit finance threats.
Promoting Public-Private Partnerships
Treasury officials also met with financial institutions from Mexico and the US to identify shared priorities in combating corruption, promoting public-private partnerships to counter illicit finance, and tackling drug, arms, and human trafficking. The goal is to leverage the expertise of both public and private sectors to combat these threats more effectively.
Addressing Vulnerabilities
The meeting comes amid growing concerns about the role of Mexican financial institutions in facilitating criminal activities, including terrorism financing. Experts point out that Mexico’s porous borders and lack of effective regulations make it an attractive hub for criminal activity. To address these vulnerabilities, more needs to be done to strengthen regulations and enhance international cooperation.
A Key Step towards Combating Financial Crimes
The US Treasury Department’s talks with Mexican officials are seen as a key step towards strengthening cooperation and combating the scourge of financial crimes and terrorism financing in the region. The meeting demonstrates the commitment of both countries to work together to address these threats and protect their citizens from illicit activities.
By working together, Mexico and the United States can more effectively combat financial crimes and terrorism financing, and create a safer and more secure environment for their citizens.