Update on U.S. Currency Restrictions in Mexico (FinCEN Advisory – FIN-2012-A006)

This advisory updates financial institutions on changes in illicit fund movement methodologies resulting from Mexican regulatory restrictions on U.S. currency transactions. It identifies specific red flags, including funnel account activity, unusual currency deposits followed by wire transfers to Mexico, and the use of CMIR forms to legitimize deposits. Financial institutions are instructed to monitor for these patterns and include the narrative tag "MX Restriction" in Suspicious Activity Reports when transactions involve funds derived from illegal activity or lack a lawful business purpose.

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Department of the Treasury
Financial Crimes Enforcement Network
Advisory
FIN-2012-A006
Issued: July 18, 2012
Subject: Update on U.S. Currency Restrictions in Mexico The Financial Crimes Enforcement Network (FinCEN) is issuing this Advisory to remind financial institutions of previously-published information concerning regulatory restrictions imposed on Mexican financial institutions for transactions in U.S. currency. In 2010, FinCEN issued an Advisory (2010 Advisory) informing financial institutions of then-recently enacted restrictions.1

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Lineage: In force

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Source: Financial Crimes Enforcement Network — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works