Two Companies Shut Down in Morelos Over Alleged Money Laundering Operations
During the last six months, two companies were shut down in Morelos for allegedly carrying out money laundering operations, while at least five real estate companies received financial penalties ranging from 500,000 to 800,000 pesos for failing to comply with their reporting obligations, confirmed David Ricardo López Jiménez, president of the National Chamber of Commerce, Services and Tourism (Canaco Servytur) Cuernavaca.
The business leader warned that the tightening of the legal framework governing vulnerable activities has increased compliance requirements for strategic sectors such as real estate, leasing, and the provision of professional services.
López Jiménez clarified that violations of the regulations do not arise solely from the commission of serious crimes, but also from failure to comply with financial thresholds and the lack of timely notices to the corresponding authorities. However, he emphasized that repeat offenses or failure to correct these omissions can lead to criminal liability, with penalties ranging from 8 to 15 years in prison.
Given this situation, Canaco Cuernavaca called on its members and local business owners to implement preventive protection and operational risk mitigation measures to avoid the suspension of activities and administrative or criminal sanctions.
Source: morelos.quadratin
