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July 6, 2004
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FinCEN Resumes Information Sharing with Mexico

The Financial Crimes Enforcement Network (FinCEN) announced today that it has reinstated information sharing with its Mexican financial intelligence unit counterpart, the Unidad de Inteligencia Financiera (UIF), following the suspension FinCEN imposed on April 21, 2004. That suspension resulted from the unauthorized disclosure by other Mexican governmental officials of certain sensitive financial information provided by FinCEN. The unauthorized disclosure was in breach of well-established and clearly defined protocols recognized by all members of the Egmont Group, to which both organizations belong.

Immediately following the suspension, FinCEN outlined a set of near-term measures that Mexico was required to take before the suspension would be lifted. The measures require Mexico’s UIF to take concrete steps to ensure that information is disseminated to other government agencies in a manner that protects its confidentiality and warns of the consequences of unauthorized disclosure.

“Our counterparts in Mexico have made substantial progress in implementing the measures necessary to resume information sharing,” said William J. Fox, Director of FinCEN. “We are encouraged by Mexico’s commitment to address our concerns as both countries view our financial information sharing relationship as a very valuable and productive component in the international fight against terrorist financing and money laundering.”

To date Mexico’s UIF has taken the following steps toward meeting these requirements: