This book chapter examines the contemporary global financial regulatory framework within the context of Latin America’s export-led growth potential. Currently, emerging markets navigate a historically challenging financial regulatory environment. The complexities of Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT) regulations impose a series of demanding compliance costs and unintended economic consequences for firms and governments. These consequences include market concentration, barriers to innovation, and financial exclusion. These challenges are particularly acute in countries, industries, and communities deemed riskier by global financial institutions, such as those in Latin America. Ultimately, as this regulatory burden is expected to continue increasing, this chapter recommends that Latin American policymakers engage with the Financial Action Task Force (FATF) to advocate for reforms aimed at addressing these challenges, enabling Latin American economies to enhance their export capabilities and growth potential.