Regulation and Compliance
From February 11 to 13, Mexico City hosted "FATF Week" and the FATF Plenary — the event where countries sit down to discuss money laundering with the seriousness of those who know they will soon have to answer for it. Mexico is no exception: the country's formal evaluation is set for 2026. Mexico's Ministry of Finance (SHCP) reaffirmed its anti-money-laundering commitment before the body. Everyone took notes and drank water.
Topics on the table included cyber fraud and crypto-assets, two fronts where Mexico has accelerated work ahead of it. The implicit message of the week: whoever doesn't arrive at the evaluation process with their controls in order will arrive with explanations instead. And explanations before the FATF cost more than they appear to in annual budgets.
"The FATF evaluation isn't a formality you can solve with a good presentation. It's a snapshot of the system. It's in everyone's interest that the picture comes out well."
Institutional impact: Anticipate stricter standards for due diligence, transaction monitoring, and customer documentation, especially in vulnerable activities and for PEPs (Politically Exposed Persons). Strengthen the AML risk map using a risk-based approach: this will be the central theme of the evaluation.
UIF, CNBV, and the Anti-Money-Laundering Offensive — When the Referee Starts Taking Notes
February brought movement on the operational regulatory front: the UIF (Mexico's Financial Intelligence Unit) and the CNBV (National Banking and Securities Commission) published a set of AML best practices for money remitters and general deposit warehouses. The government announced a reinforced offensive against shell-invoice companies ("factureras") and money laundering linked to organized crime, with coordination among the SAT (tax authority), UIF, FGR (Attorney General's Office), and the Fiscal Prosecutor's Office. As a bonus, seven individuals linked to the CJNG cartel were blocked over timeshare fraud, along with a joint Mexico–U.S. designation of 31 individuals and entities tied to similar schemes.
The UIF also reported having received more than 27.5 million reports from the financial system. For context: this is a volume that the agency's analytical tools process with increasing sophistication every cycle. The question isn't whether the authority has information — it's whether the information you report is quality data or just formatted noise.
"Reporting for the sake of reporting — without substance, without judgment — is the corporate way of complying without complying. And the UIF knows this better than anyone."
Institutional impact: Review the quality and timeliness of RIO/RIOP/RIP reports (F36 layout). Make sure internal lists are updated against the Blocked Persons List and OFAC sanctions. Strengthen training for compliance officers and business-facing teams to detect — and avoid — relationships with shell-invoice-type structures or unclear timeshare schemes.
CNBV, Operating Calendar, and the 2026 Miscellaneous Tax Resolution (RMF) — The Details That Cost You When Ignored
In February, the CNBV published its Financial Savings and Financing Report through September 2025, with detailed series on credit and funding by type of intermediary. Required reading for anyone who wants to know how their portfolio stacks up against the sector, instead of operating on benchmarks that expire every time the boss goes to a conference.
The provisions setting the closure and operation-suspension days for entities subject to CNBV oversight remain in effect for 2026, as does the ABM's (Mexican Bankers Association) banking holiday calendar. The 2026 Miscellaneous Tax Resolution (RMF) shows no specific changes for SOFOMs or leasing companies as of February, but it does reflect a clear trend toward greater scrutiny of invoicing and unusual transactions that shouldn't be ignored.
"Banking holidays aren't a suggestion. They're the difference between a correctly calculated interest charge and a well-founded lawsuit."
Institutional impact: The savings and financing report is a key source for benchmarking against other non-bank financial institutions (IFNBs) on portfolio growth, delinquency, and funding structure. Use it. Non-business-day calendars are critical for correctly setting due dates, calculating interest and late fees without operational errors, and coordinating regulatory reporting deadlines.
SOURCES:
Banxico: https://www.banxico.org.mx
CNBV: https://www.cnbv.gob.mx
UIF-SHCP: https://www.uif.gob.mx
GAFI / FATF: https://www.fatf-gafi.org