US EditionProhibition on Vector, Cibanco and Intercam Enters Into Force
9 Articles
9 Articles
A Treasury order to cut off relations with CIBanco, Intercam and Vector, firms accused of helping drug cartels wash money, came into effect on Monday, October 20. But its impact has already spread throughout Mexico’s banking system. The three sanctioned entities were dismantled and sold by parties. Their customers moved their operations—most of them on the exchange market—to other banks or stock exchange houses. Beyond those firms, Mexico’s bank…
An unprecedented order from the U.S. Treasury Department to shut down three Mexican financial firms for allegedly helping drug cartels to launder funds comes into effect on Monday. The three firms – CIBanco SA, Intercam Banco SA and Vector Casa de Bolsa SA – have been dismantled and sold in parts. Their customers have gone away with their businesses – much of which consisted of foreign exchange – to other banks or stock exchange houses.
The three financial institutions identified by the U.S. Treasury –CIBanco, Intercam and Vector – are either in the process of disappearing or being acquired by other entities, following the accusations of money laundering in the U.S. and its consequent prohibition in that country. The post U.S. Treasury sanctions against CIBanco, Intercam and Vector enter into force first appeared on SinEmbargo MX.Read the full text in sinembargo.mx
FinCEN announced on October 20 the sanctions against CIBanco, Intercam and Vector; institutions that were pointed out to launder money from criminal organizations.After a series of delays and structural changes in CIBanco, Intercam and Vector by the National Banking and Securities Commission, FinCEN gave its resolution.What are the sanctions against CIBanco, Intercam and Vector by FinCEN?FinCEN announced that since October 20, 2025, CIBanco, Int…
On Monday, the measures of the U.S. Treasury Department against Intercam, CI Banco y Vector, Mexican financial institutions on which money laundering claims have been in effect since last June, when they became known. It should be recalled that at that time, the Mexican authorities decided to carry out a preventive intervention in order to protect the savers, after finding that the institutions mentioned presented problems with their funding lin…
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