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Mexico's UIF Targets Crypto, Sugar Smuggling; Sheinbaum Confirms Reinforcement Image: Fernanda Rojas / EL UNIVERSAL
🇲🇽 Mexico /Crime & Justice

Mexico's UIF Targets Crypto, Sugar Smuggling; Sheinbaum Confirms Reinforcement

From El Universal · () Spanish

Translated from Spanish and summarized by DistantNews. Read the original for the full story.

At a glance

News Named sources New plan
  • Mexico's Financial Intelligence Unit (UIF) is actively pursuing criminal activities involving crypto assets and sugar smuggling.
  • The UIF has established specialized units and international information-sharing agreements to investigate illicit crypto transactions and cross-border sugar smuggling.
  • President Claudia Sheinbaum affirmed that the UIF has been reinforced with personnel and equipment, emphasizing strong coordination with the Attorney General's Office to combat organized crime and white-collar offenses.

Mexico's Financial Intelligence Unit (UIF) is intensifying its fight against illicit financial activities, with a particular focus on crypto assets and sugar smuggling. Omar Reyes Colmenares, head of the UIF, announced these actions during President Claudia Sheinbaum's press conference.

The UIF has created a specialized unit to investigate the use of crypto assets by organized crime, noting that most of these transactions are international. "We have information exchange agreements with the largest companies dedicated to crypto assets in Mexico to obtain that information," Reyes Colmenares stated. The unit also collaborates with the Attorney General's Office (FGR) on investigations where funds are converted into cryptocurrencies.

We have information exchange agreements with the largest companies dedicated to crypto assets in Mexico to obtain that information. We even work with the Attorney General's Office (FGR) to carry out these investigations when we identify money being converted into crypto assets.

— Omar Reyes ColmenaresExplaining the UIF's strategy to combat illicit crypto asset use.

Regarding sugar smuggling, the UIF has a signed agreement with Customs to conduct intelligence operations and share information. Reyes Colmenares explained that sugar smuggling occurs both from abroad and within the country, and this collaboration has already yielded results. President Sheinbaum also highlighted efforts against fuel smuggling and fraudulent invoicing companies.

We have a very advanced work and Customs has had results derived from this information exchange.

— Omar Reyes ColmenaresDescribing the progress made in combating sugar smuggling through collaboration with Customs.

Sheinbaum emphasized that the UIF has been reinforced with additional personnel and equipment. "We are doing a lot of coordination work for organized crime, white-collar crimes, or activities related to corruption," she said, noting the professional approach and close coordination with the FGR and, in some cases, state prosecutors.

The UIF also maintains continuous international information exchange to identify criminal organizations and combat various crimes, including money laundering linked to drug trafficking. This multi-pronged approach aims to disrupt criminal networks and secure financial channels.

The UIF has been reinforced, even with personnel and equipment. And a lot of coordination work is being done for organized crime, white-collar crimes, or activities related to corruption. So, the work is done very professionally and there is a lot of coordination with the Attorney General's Office, in some cases state prosecutors.

— Claudia SheinbaumHighlighting the reinforcement and enhanced coordination of the UIF.
About this summary

Originally published by El Universal in Spanish. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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