Mexico’s Financial Intelligence Unit: Money Laundering Occurs More Through Banks Than Via Fintech

Mexico’s Financial Intelligence Unit published the results of its national risk assessment. According to the report, the potential for money laundering through the banking sector far exceeds the risks of similar crimes in the fintech and crypto sectors.

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As reported by Cointelegraph, citing a local publication, among banks in Mexico’s \”Big Seven\” — BBVA, Santander, Citibanamex, Banorte, HSBC, Scotiabank and Inbursa — there are significantly more money-laundering cases than among blockchain companies.

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Also, financial intelligence specialists classified broker-dealers, exchanges, and providers of banking services to institutional clients as high risk.

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For the fintech sector, the risk classification was not defined.

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As reported in a recent study, Mexico ranked among the top three countries with the greatest potential to adopt bitcoin and other cryptocurrencies.

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