CNBV to Intensify Financial Oversight Following Designation of Cartels as Terrorists

The National Banking and Securities Commission (CNBV) announced that it will increase monitoring of financial institutions after the U.S. government identified six Mexican drug cartels as terrorist organizations. "We are strengthening the oversight carried out by the Commission, looking for areas where we can improve supervision to prevent any eventuality," said Jesús de la Fuente, director of the CNBV, following his speech at the Fintech Mexico Festival.

The official emphasized that adjustments to regulations depend on the Ministry of Finance and Public Credit. De la Fuente noted that, at this time, the financial system is in a period of stability, strength, and innovation, especially within the fintech sector. He added that the Commission is entering a new phase to update regulations and align with best international practices. "Since last year, we have already started monitoring fintech institutions. This risk-based supervision is what is currently being evaluated," he commented.

It is crucial for the CNBV to maintain rigorous supervision in light of these recent changes, as transparency and proper regulation are essential to ensuring the stability of the financial system. The inclusion of digital finance in this process presents both a challenge and an opportunity to innovate in crime prevention and promote a safer economic environment.