On July 17, 2025, the reform to the Federal Law for the Prevention and Identification of Operations with Illicitly Sourced Funds (LFPIORPI) entered into force. Originating from FATF recommendations, the reform significantly strengthens compliance obligations in Mexico by redefining the concept of the Beneficial Owner, lowering the control threshold, and introducing new duties for companies. All commercial entities, whether or not engaged in vulnerable activities, must now identify, document, and register their Beneficial Owners. These changes mark a turning point in Mexico’s corporate compliance culture, demanding greater transparency and accountability.