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Money Laundering and Financial Risk Management in Latin America, with Special Reference to Mexico

Author

Listed:
  • Willy Zapata Sagastume.

    (International Adviser in Finance and Banking.)

  • Juan Carlos Moreno-Brid.

    (Universidad Nacional Autónoma de México.)

  • Stefanie Garry.

    (Economic Comission for Latin America and the Caribbean.)

Abstract

This paper reviews the current status of the international fight against money laundering and the financing of terrorism, highlighting the importance of its prevention for economic and financial stability in Latin America and the Caribbean. It reviews Latin American and Caribbean countries’ compliance with the Financial Action Task Force (fatf) (40 + 9) Recommendations, and analyzes the region’s performance with respect to their third round Mutual Evaluation Reports. The case study of Mexico provides specific insight into the country’s reforms and policies to combat these financial sector operational risks.

Suggested Citation

  • Willy Zapata Sagastume. & Juan Carlos Moreno-Brid. & Stefanie Garry., 2016. "Money Laundering and Financial Risk Management in Latin America, with Special Reference to Mexico," Economía: teoría y práctica, Universidad Autónoma Metropolitana, México, vol. 44(1), pages 9-50, Enero-Jun.
    • Handle: RePEc:ety:journl:v:44:y:2016:i:1:p:9-50
    DOI: 10.24275/ETYPUAM/NE/442016/Zapata
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    More about this item

    Keywords

    Money Laundering; Financing of Terrorism; Financial Sector Regulation; Compliance; Latin América and the Caribbean; Mexico.;
    All these keywords.

    JEL classification:

    • F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • H26 - Public Economics - - Taxation, Subsidies, and Revenue - - - Tax Evasion and Avoidance
    • K42 - Law and Economics - - Legal Procedure, the Legal System, and Illegal Behavior - - - Illegal Behavior and the Enforcement of Law

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