BBVA Mexico Already Compliant with Regulations
According to Eduardo Osuna, Vice President and General Director of BBVA Mexico, the banking sector in Mexico already complies with local and international regulations.
“The banking sector has been building a robust regulatory framework, not only with local standards but also international ones due to Mexico’s risk situation,” Osuna explained.
Voluntary Measures by ABM to Strengthen Anti-Money Laundering (AML)
On Wednesday, the Mexican Banking Association (ABM) announced a series of additional voluntary measures to bolster AML efforts and prevent other illicit activities following the cases of CIBanco and Intercam.
- Increased security on international transfers, as well as cash deposits and withdrawals exceeding 140,000 pesos.
Restrictions on Remittances at BBVA Mexico
During the presentation of the group’s third-quarter 2025 financial results, BBVA Mexico’s director explained that the bank has numerous restrictions on remittance sending and receiving, which are also digital.
He mentioned that nearly 95% of the remittances handled by the bank are deposited in BBVA accounts, but the goal is for this to be 100%.
“Do we comply with regulations? Yes, but it’s better if 100% is deposited in an account, providing traceability to both incoming and outgoing transactions,” he stated.
Beyond AML: Digitalizing the Economy
Eduardo Osuna highlighted that these measures are international best practices discussed in ABM’s various committees.
“Banks will gradually adopt this measure, which will be a better practice. It involves many operational developments,” he said.
He emphasized that these actions not only prevent money laundering and other financial crimes but also contribute to digitalizing the country’s economy.
“Ensure that all transactions, or a significant number of them passing through the bank, become fully digital in channels providing traceability and operating on system accounts,” he pointed out.
He acknowledged that while regulation in this area is strong, these measures are a positive response to the CIBanco and Intercam cases, which were accused of money laundering by the US Department of the Treasury in June. These entities were nearly dismantled four months later.
“Our plan complies with local, American, and European regulations. What happened in the three institutions (including Vector Casa de Bolsa) compels all banks, not just Mexican ones, to continue intensifying our efforts,” he stressed.
“Love Our New App”
On another note, BBVA Mexico defended its recently launched mobile application amid user criticisms.
“I can assure you that users will love our App. It’s truly an impressive innovation, and you’ll see its benefits soon,” the BBVA Mexico director said.
Hugo Nájera, Director of Retail Banking at BBVA Mexico, encouraged users to try the new version to discover its advantages.
He estimated that users would adapt to the new system, including side navigation and AI-based hyperpersonalization options, within a couple of weeks.
“It might take some time to discover these features, but once you do, you’ll find everything you were looking for. I’m confident this will improve and evolve,” he concluded.
