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Lotería Nacional and Mexico’s UIF sign anti-money-laundering cooperation agreement

Deals & M&A

Mexico’s Lotería Nacional and the Finance Ministry’s Financial Intelligence Unit (UIF) signed an agreement to coordinate measures against money laundering. The planned work includes inter-agency meetings, training and strategies to strengthen prevention and detection, with each institution appointing officials to a joint follow-up group.

The agreement establishes joint prevention and detection work relevant to lottery oversight and financial controls.

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Enforcement & compliance

OFAC sanctions two Mexican casinos amid alleged cartel money laundering

The US Treasury’s Office of Foreign Assets Control sanctioned six entities, including two casinos, over alleged links to a money-laundering and cash-smuggling network operated by the Northeast Cartel. Mexico’s finance ministry also suspended Casino Centenario and Diamante Casino, while the financial intelligence unit referred suspected money-laundering and tax offences to prosecutors.

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