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Unconstitutionality of Article 115 of the Credit Institutions Law On October 4, 2017 the Federal Supreme Court of Justice, ruled on the Amparo action number 1214/2016, declaring the unconstitutionality of Article 115 of the Credit Institutions Law, which authorizes the Ministry of Finance to block bank accounts of taxpayers for alleged money laundering and terroristLeer más

On October 4, 2017 the Federal Supreme Court of Justice, ruled on the Amparo action number 1214/2016, declaring the unconstitutionality of Article 115 of the Credit Institutions Law, which authorizes the Ministry of Finance to block bank accounts of taxpayers for alleged money laundering and terrorist financing operations, prior to the execution of an administrativeLeer más

The Mexican Financial Intelligence Unit (“UIF” for its acronym in Spanish), of the Treasury Ministry issued an interpretation regarding Outsourcing matter. The UIF considered this kind of activity, outsourcing, as a Vulnerable Activity under the Federal Act to Prevent and Identify Illegally-Funded Transactions, and therefore, subject of identification and reporting obligations. To the query formulatedLeer más

Recently, the Mexican Financial Intelligence Unit (“UIF” for its acronym in Spanish), of the Treasury Ministry issued an interpretation regarding Outsourcing services. The UIF considered Outsourcing Services as a Vulnerable Activity under the Federal Act to Prevent and Identify Illegally-Funded Transactions (“Act”) According to the referred interpretation, the render of independent professional services, on behalfLeer más