Regulatory Alerts2025-11-13
Proposal of Special Measure Regarding Transactions Involving Ten Mexican Gambling Establishments as a Class of Transactions of Primary Money Laundering Concern
The Financial Crimes Enforcement Network proposes a special measure under the USA PATRIOT Act to designate transactions involving ten Mexico-based gambling establishments as a class of primary money laundering concern linked to the Sinaloa Cartel. This rulemaking would prohibit U.S. financial institutions from opening or maintaining correspondent accounts for foreign banks used to process transactions involving these specific casinos. Additionally, covered institutions would be required to apply special due diligence to correspondent accounts reasonably designed to guard against the use of such accounts for these illicit transactions.
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