Money laundering is one of the most serious problems in Mexico, in fact, some studies put the country in the<\/span> third place among those with the largest amount of illicit capital globally<\/span><\/a> in their economies.<\/span><\/p>\n Money laundering is the process by which funds or assets generated by illicit activities are linked to legitimate transactions so they can circulate legally within the economic system, so their origins cannot be traced\u2014or at least that is the purpose.<\/span> In Mexico it has three main forms<\/span><\/a>: resources that come from activities related to corruption, those generated by organized crime, and those that go unchecked due to tax evasion.<\/span><\/p>\n Although this activity has existed almost as long as currency itself, and money laundering methods have become much more sophisticated today, there are generally three phases to its operation:<\/span><\/p>\n The sectors most susceptible to money laundering or suspected of engaging in this activity are those related to the financial system or those that handle large amounts of money, such as real estate agencies, luxury goods and vehicle dealers, non-profit organizations that receive donations, brokerage firms, betting firms, among others. Most companies in these sectors <\/span>They do not know from the beginning that they must comply with standards for preventing money laundering, so they regularly incur in omissions that imply fines ranging from 12 thousand to 4 million pesos.<\/b>, such as notifying the authorities when they detect suspicious activity.<\/span><\/p>\n To avoid associating with companies or people whose purpose is to launder their money, strategies for the Prevention of Money Laundering (PLD) must be employed and include processes<\/span> Customer Knowledge<\/span><\/a> (KYC), which allow companies to prevent, detect and report any movement related to Money Laundering, such as the validation of the identity of their clients and partners, or the creation of digital files to avoid having physical documentation for up to five years as established by the <\/span>Federal Law for the Prevention and Identification of Operations with Illicit Proceeds <\/span><\/i><\/a>in its Article 18.<\/span><\/p>\n Fortunately <\/span>Your Identity has the necessary solutions to implement this type of processes<\/b>, like our module<\/span> official identification<\/span><\/a>, fingerprint biometrics, background checks on blacklists, among others. <\/span><\/p>\nWhat is money laundering?<\/b><\/h3>\n
How it works?<\/b><\/h3>\n
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How to combat it?<\/b><\/h3>\n
Our solutions<\/b><\/h3>\n