Unconstitutionality Of Article 115 Of The Credit Institutions Law - Government - Mondaq Mexico - Mondaq Business Briefing - Books and Journals - VLEX 695131777

Unconstitutionality Of Article 115 Of The Credit Institutions Law

Author:Mr Daniel Del Rio, Rodolfo Barreda Alvarado and Julio Copo
Profession:Basham, Ringe y Correa, S.C.
 
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On October 4, 2017 the Federal Supreme Court of Justice, ruled on the Amparo action number 1214/2016, declaring the unconstitutionality of Article 115 of the Credit Institutions Law, which authorizes the Ministry of Finance to block bank accounts of taxpayers for alleged money laundering and terrorist financing operations, prior to the execution of an administrative proceeding.

The case originated when the Financial Intelligence Unit of the Ministry of Finance included the plaintiff company on the list of blocked persons, which resulted in the freeze of all the company's accounts and a ban to open new accounts or to cancel existing accounts.

In both the Amparo action and the motion for review, the plaintiff argued that blocking accounts without prior notice violated its right to a presumption of innocence and its right to a due process of law.

In first instance, the District Court considered that these...

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