Background on the Unidad de Inteligencia Financiera (UIF)
The Unidad de Inteligencia Financiera (UIF) is a Mexican financial intelligence unit under the Secretaría de Hacienda y Crédito Público (SHCP). Its primary role is to combat money laundering and terrorist financing by collecting and analyzing financial intelligence, coordinating with other agencies, and promoting international cooperation.
Investigation Details
In collaboration with the federal government’s security cabinet, the UIF conducted a months-long investigation that identified 13 casinos involved in cash operations, international flows, and unsupervised digital platforms.
Key Findings
- High-risk financial operations: The casinos were flagged for their high financial risk, with the aim of protecting users and preventing criminal organizations from exploiting these spaces.
- Consistent patterns with international money laundering typologies: Investigations revealed consistent patterns indicative of money laundering in establishments across several Mexican states, including Jalisco, Nuevo León, Sinaloa, Sonora, Baja California, Estado de México, Chiapas, and the Ciudad de México.
- Large cash movements and international transfers: The investigation uncovered substantial cash transactions and transfers to countries like the United States, Romania, Albania, Malta, and Panama.
- Use of digital platforms: These platforms facilitated the dispersal, concealment, and reintegration of illicit funds into Mexico’s and international financial systems.
- Mismatched economic profiles: Casinos employed individuals with economic profiles (e.g., housewives, students, retirees, unemployed) to transfer funds without raising suspicion.
UIF’s Actions and Collaboration
Based on the investigation findings, the UIF will file charges against the 13 casinos with the Fiscalía General de la República (FGR) and notify the Procuraduría Fiscal de la Federación to follow up on potential crimes related to illicit funds, criminal association, and fiscal offenses.
This action underscores Mexico’s commitment to international cooperation in preventing money laundering, working alongside the Financial Crimes Enforcement Network (FinCEN) and the Office of Foreign Assets Control (OFAC) in the United States, as well as the Group of Action on Money Laundering (GAFI).
The SHCP aims to strengthen inter-institutional coordination, prevent criminal infiltration of vulnerable sectors, and bolster joint efforts with security and justice authorities to stop criminal organizations from using casinos and betting platforms. This also aims to safeguard users and the public.
Contextual Background
These actions come after the U.S. government accused three Mexican financial institutions—Vector, CIBanco, and Intercam—of money laundering in June. These institutions ceased operations following the accusations, causing turmoil within Mexico’s financial sector.
Key Questions and Answers
- Who is involved? The UIF, under the SHCP, is collaborating with the federal government’s security cabinet to investigate and file charges against 13 casinos.
- What are the allegations? The casinos are accused of engaging in high-risk financial operations, including cash transactions, international money flows, and unsupervised digital platforms.
- What evidence supports the charges? Investigations revealed consistent patterns with international money laundering typologies, large cash movements, and the use of digital platforms to conceal illicit funds.
- What is the significance of this case? This case highlights Mexico’s commitment to international cooperation in combating money laundering and protecting its financial system from criminal exploitation.
