Mexico, US Discuss Illicit Finance

Early August, Elizabeth Rosenberg, Assistant Secretary of the Treasury for Terrorist Financing and Financial Crimes, and Himamauli Das, Acting Director of the Financial Crimes Enforcement Network, came together with their Mexican counterparts for the Strategic Dialogue on Illicit Finances (SDIF) in Mexico City. The event, jointly organized by the US Department of the Treasury and Mexico’s Financial Intelligence Unit (UIF), aims at addressing pressing issues related to illicit finances and potential threats.

The primary focus of the discussions was on the shared challenges posed by illicit finances, particularly concerning narcotics trafficking, shared the US Department of the Treasury. The rise in trafficking of deadly synthetic opioids like fentanyl, along with the trade in their precursors, has raised serious concerns for both countries. Participants engaged in in-depth conversations about strategies and collaboration opportunities to combat these threats effectively.

A significant highlight of the meeting was the acknowledgment of the bilateral Strategic Dialogue on Illicit Finances (SDIF) as a pivotal platform for advancing the objectives outlined in the US - Mexico Bicentennial Framework. This framework is dedicated to anti-money laundering efforts and the fight against terrorism financing. Both countries recognized the importance of collective action in countering these financial challenges, with SDIF helping to strengthen this collaboration.

Aside from discussions on narcotic-related financial threats, Treasury officials from both countries also convened with representatives from various financial institutions. The agenda encompassed a broader spectrum of priorities, including addressing corruption, nurturing public-private partnerships to tackle illicit finances and confronting issues like drug trafficking, arms trade and human trafficking. This broader engagement underlined the comprehensive approach that both countries are pursuing to safeguard their financial systems from illegal activities.