The prevention of money laundering is a very important issue and with the advancement of technology, financial crimes have become present, so fortunately for Fintechs the new Law that came into force in Mexico prevents the financing of illicit activities.
That is why most financial regulators are promoting stricter laws, fines, and penalties that end dirty money. Therefore, an important challenge for Fintech companies is to comply with regulations that are compatible with the technology.
It is necessary to evaluate the risks, controls and compliance programs and complement all the information in a risk framework to develop the services. In addition, all entities must comply with the prevention of money laundering, liquidity, efficiency in the way they operate, transparency and an efficient development of infrastructure that promotes the efficiency of financial services.