Mexico’s ABM Sets Stricter AML Rules for Transfers, Cash

The Mexican Banking Association (ABM) has announced plans to strengthen anti–money laundering (AML) and compliance practices across the country’s banking system, following recent cases involving CIBanco and Intercam.

Emilio Romano, ABM president, said the measures will go beyond regulatory requirements to reinforce the integrity and stability of Mexico’s financial system. “We want the system to be as well-protected as possible to prevent illicit activities from occurring,” he said at a press conference following the association’s committee meeting.

Key recommendations include restricting international transfers to verified account holders, with immediate implementation for corporate clients and phased adoption for individuals by mid-2027. For cash transactions above MX$140,000 (US$7,541.54), banks would require official identification and biometric verification starting in July 2026, aiming both to deter criminal activity and promote the digitalization of the economy. All deposits to concentrator accounts will also be fully referenced to ensure transaction traceability.

The ABM plans to align AML practices with US standards, sharing information on money laundering patterns and typologies to enhance detection. A new technology platform will enable near-real-time data sharing between institutions, while the association will hold regular meetings with the Financial Intelligence Unit (UIF) to review cases and coordinate prevention strategies.

Romano clarified that these steps reflect ongoing efforts to strengthen controls, not a response to deficiencies. Regarding recent allegations, CIBanco has ceased operations and is no longer part of the ABM, while Intercam continues to operate at reduced capacity after transferring part of its assets to Capital Bank.

“The Mexican banking sector is taking concrete action to uphold trust, ensure compliance, and maintain operational continuity,” Romano said.