The announcement was made during the 8th EU-Mexico summit, where Mexico and the EU signed a trade agreement to decrease dependence on the U.S. The two governments would be focused on cooperating to curb this kind of crypto-linked illicit activity.
Key Takeaways:
After securing a €5B deal, Mexico and the EU will next collaborate to curb global crypto money laundering.The talks will focus on targeting groups like the Sinaloa Cartel, which use crypto flows to launder money globally.Both governments will next advance a dialogue to deal with crypto threats.The announcement was made during a press conference at the 8th Mexico-EU Summit, where Mexico’s President, Claudia Sheimbaum, and Ursula von der Leyen, President of the European Commission, signed a trade agreement that encompasses a €5 billion investment in Mexico.
Furthermore, he indicated that the two parties intended to “maintain a dialogue and explore opportunities for cooperation to confront these threats and activities.”
Mexico’s and the EU’s collaboration is relevant, given that the Sinaloa Cartel, one of the largest drug trafficking organizations in the western hemisphere, has activities in Europe.
Recently, the U.S. Office of Foreign Assets Control (OFAC) sanctioned six individuals and two companies for their involvement in money laundering activities.
