Mexican banks adopt tougher anti-money laundering measures

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Mexican banks on Tuesday adopted tougher measures in the fight against money laundering, said an official document released by the finance ministry.

The banks will strengthen client management and report any transactions that are "important, unusual or worrying" to the finance ministry, said the document published in the Official Federation Gazette on Monday.

    The new measures are designed to make life more difficult for drug traffickers and organized criminals who tried to launder money through legitimate financial service firms.

    Under the new rules, the banks will classify their clients according to different criminal risks they may represent.

    Mexico has been engaged in a prolonged battle against drug traffickers since December 2006. It is also trying to cut the flow of guns to the country from the United States, where gun laws are looser.