A central topic to the investigation and prosecution of corruption is the criminal offense of money laundering. In the past years, the intergovernmental Financial Action Task Force or FATFA has noted that Mexico has an adequate system to tackle money laundering and terrorist financing, but should step up efforts in pursuing launderers and confiscating their assets.… Continue Reading
Compliance Alert: Mexican government grants itself right to seize and sell ‘unexplained’ corporate assets
Last Friday the Mexican government issued the National Law for Dominion Extinction in a direct attempt to ameliorate and control the product of illicit activities such as corruption and money laundering.… Continue Reading
Legislative changes in Mexico continue to expand the tools prosecutors have to fight corruption and to effectively recover illicitly acquired assets, particularly from corrupt activities.… Continue Reading
Walmart Inc. agreed Thursday to pay the DOJ and SEC $282 million to settle allegations that it violated the Foreign Corrupt Practices by paying an intermediary in Brazil for help obtaining construction permits and having weak anti-corruption internal controls in Brazil, China, India, and Mexico.… Continue Reading
Anti-corruption law has never been thought to hold much sway in Mexican affairs. Despite a nominal prohibition of bribery and graft and an abundance of recent corruption scandals, the country’s history of minimal enforcement has fostered an expectation of impunity.… Continue Reading
Mexico’s antitrust authority, COFECE, has come a long way since the legislative reform starting in 2006. Greater investigative powers, such as a leniency program, the power to conduct surprise raids, and higher maximum fines for competition infringements, together with the creation of antitrust-specialized courts, have consolidated COFECE’s mandate as an independent regulator responsible for enforcing competition law in the country.… Continue Reading
Mexico has been moving forward with its National Anti-corruption System (NAS) that began with a reform of the Constitution in 2015, followed by new laws that partially came into effect in 2017 and were half-heartedly implemented in 2018.
The prolonged implementation has caused fatigue, leaving the impression that things were moving too slowly, particularly when compared with other Latin American peers that have made significant strides in the enforcement of their anti-corruption laws.… Continue Reading
CHS Inc. disclosed in an SEC filing Monday that it self-reported possible FCPA violations related to Mexican customs payments.
The Minnesota-based agriculture company said in a 10-K that it voluntarily disclosed the potential violations to the DOJ and SEC.… Continue Reading
It is not an overstatement to say that a new era on anticorruption and compliance cooperation and coordination efforts has begun with the announcement of the United States-Mexico-Canada Trade Agreement or USMCA, which is set to replace NAFTA as soon as it is signed in late November of 2018 and subsequently ratified in 2019.… Continue Reading
Transparency International just updated its Exporting Corruption Evaluation for 2018, the first update since 2015.
It assesses enforcement of the OECD Anti-Bribery Convention by reviewing the 44 countries that are signatories of the convention and account for 65 percent of world exports, and more than 75 percent of total foreign direct investment outflows.… Continue Reading
Mexico held a groundbreaking presidential election on July 1 in which Andres Manuel López Obrador, the leader of a wide ranging coalition called the National Regeneration Movement, swept to victory with 53 percent of the votes.… Continue Reading