15th July 2014
Mexican Unidad de Inteligencia Financiera (UIF)
Created in 2004, the Mexican Unidad de Inteligencia Financiera (UIF) is a government agency focused on detecting and preventing financial crimes such as money laundering and terrorist financing. The UIF is also responsible for enforcing financial crime regulations. The institution operates in accordance with international standards set by the FATF, and on its most recent FATF assessment, the UIF received a “Majority Accomplished” rating.
Like most financial intelligence units, the UIF is responsible for receiving and acting upon reports about suspicious financial transactions, analyzing financial data and trends, and using the expertise it acquires to formulate policy responses and enforce regulations against financial criminals. The agency is tasked with tracking down money laundering and terrorist financing both domestically and internationally. In addition, the UIF also works to promote transparency within the Mexican financial industry, enforce risk detection procedures, and ensure that proper research is being completed on clients who hold more than one bank account.