Mexico’s UIF Sees 70% Spike in Alerts Amid Crypto Oversight

Mexico’s Financial Intelligence Unit (UIF), part of the Finance Ministry (SHCP), received over 8.4 million alerts related to vulnerable financial activities in the first half of 2025, marking a 70.7% increase compared to the same period last year, according to its latest activity report.

The UIF identified virtual asset operations, including cryptocurrency transactions, as the primary driver of this surge. Between January and June, alerts related to virtual assets reached 4,073,212, accounting for 47% of total alerts. This represents a 423% increase from the 777,394 alerts registered in the same period in 2024.

“The rise in alerts is mainly due to activities involving virtual assets, particularly as technology adoption continues to grow both in Mexico and globally,” said Silvia Matus, Partner in Anti-Money Laundering, BHR México.

The UIF monitors 16 categories of vulnerable activities. Following virtual assets, the most reported activities were cash or securities transfers and custody, which accounted for 1,144,456 alerts—a 13% year-over-year increase. Reports involving service or credit cards, prepaid cards, vouchers, digital wallets, and refund certificates also contributed to the overall total.

The increase in alerts coincides with legislative reforms aimed at strengthening Mexico’s compliance with international anti-money laundering and counter-terrorism financing standards. Reforms to the Federal Law for the Prevention and Identification of Operations with Illicit Resources (LFPIORPI) and the Federal Penal Code seek to align Mexico with the Financial Action Task Force (FATF) recommendations.

Key changes include broadening the definition of beneficial owners, updating the concept of business relationships, expanding the list of vulnerable activities, and introducing definitions for politically exposed persons and nonprofit organizations. The reform also outlines simplified identification requirements for public-sector clients, mandatory training and auditing, and enhanced coordination between the Finance Ministry and law enforcement agencies.

Matus noted that the reform is likely to drive a further increase in alerts submitted to the UIF.

In addition to alerts, formal complaints submitted to the UIF rose by 83% during the first half of 2025. Authorities filed 77 complaints involving 44 individuals, compared to 42 complaints implicating 382 individuals in the same period last year.