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Mexico assumes presidency of the Financial Action Group

Mexico City, July 1 (Prensa Latina) Mexico today assumed the presidency of the Financial Action Group (FATF, for its acronym in French), headed by Elisa de Anda Madrazo.

The country will be in charge of FATF for a period of two years, starting on July 1 and until June 30, 2026.

“With this position, Mexico seeks to continue contributing, from the multilateral level, to the security of nations and their economies; as well as to the integrity of the international financial system, in line with the mandate of the FATF,” the Foreign Ministry said in a statement.

The work program will be guided by the principle of inclusion, she detailed in the text.

It seeks to promote financial inclusion, the cohesion of the Global Network, made up of more than 200 jurisdictions, greater integration of key international actors and the private sector in the group’s work, and promote greater diversity in FATF governance, he detailed.

The priorities of the current FATF presidency will be to promote financial inclusion to reduce the use of cash and unregulated channels, in order to reduce the risks of money laundering and terrorist financing.

Likewise, guarantee that the reports of the fifth Round of Evaluations, which will begin during the presidency of Mexico, are of high quality and consistency, with a technical focus and independent of political considerations.

It also seeks to improve the cohesion of the FATF Global Network under the principles of inclusion and collaboration. She added that the more than 200 jurisdictions have committed to implementing the agency’s standards.

We will also seek to be sensitive to the challenges of less developed countries that have limited capabilities, as well as promote regional and international cooperation.

FATF is an organization dedicated to establishing international standards, promoting and evaluating the implementation of legal, regulatory and operational measures to combat money laundering, terrorist financing, the proliferation of weapons of mass destruction and other threats related to the international and financial integrity of the system.