| Anti Money Laundering Law Concerns Real Estate Agents in Mexico Maureen Dietrich - The Mazatlan Messenger | |
| go to original November 15, 2013 |
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Mexico’s federal money laundering law (Prevención e Identificación de Operaciones con Recursos de Procedencia Ilícita) came into effect earlier this year, causing concern among real estate agents.
Flavio Michel Sánchez, President of the Asociación Mexicana de Profesionales Inmobilarios de Mazatlán (AMPI) was critical of the new law saying real estate agents are being converted into police to watch out for illegal money when, in his opinion, that should be a function of the public sector.
The law puts real estate agents in a vulnerable position, he told reporters, with clients they do not know or with clients who are uncomfortable with the questions they must ask.
Read the rest at The Mazatlan Messenger
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