US EditionUS blocks money transfers by 3 Mexico-based financial institutions accused of aiding cartels
- On Wednesday, the U.S. Treasury Department imposed sanctions that prevent financial dealings between U.S. institutions and three Mexican entities: CIBanco, Intercam Banco, and the brokerage firm Vector Casa de Bolsa, citing their involvement in fentanyl-related activities.
- The Treasury identified these financial entities as significant facilitators of money laundering linked to opioid trafficking, including fentanyl precursor chemical payments, associated with cartels such as CJNG, Gulf, and Sinaloa.
- Key allegations include a CIBanco employee aiding a $10 million laundering account in 2023, Intercam executives meeting suspected CJNG members in 2022, and Vector processing over $1 million in related transactions from 2013 to 2021.
- Vector stated it rejects any allegations compromising its integrity and will cooperate with authorities, while Mexican President Sheinbaum said investigations showed only administrative infractions and framed the banks’ China ties as routine trade.
- The sanctions mark the first use of new fentanyl-related authorities and imply increased U.S. efforts to disrupt cartel financing, though Mexico has requested evidence and no U.S. institutions were named or documentation provided.
204 Articles
204 Articles
Mexico disputes U.S. money-laundering charges against banks allegedly linked to fentanyl trafficking
After U.S. Treasury officials accused three Mexican financial institutions of aiding drug cartels, Mexican President Claudia Sheinbaum said there was "no proof" to the allegations.
The Treasury Department punishes three Mexican institutions related to money-laundering networks.
U.S. Blocks Three Mexican Banks Over Fentanyl Money Ties
The U.S. government has taken strong action against three well-known Mexican financial firms: CIBanco, Intercam Banco, and Vector Casa de Bolsa. U.S. officials say these banks helped Mexican drug cartels move money and buy chemicals needed to make fentanyl, a powerful and dangerous drug that causes many deaths in the United States. The U.S. Treasury’s […]
The US president’s government, Donald Trump, accused the Mexican financial institutions CIBanco, Intercam and Vector of “money laundering” for drug cartels and banned them from “some transfers of funds.” The Republican tycoon has made the fight against fentanyl one of its priorities and accuses Mexico of not doing enough to fight it, which led it to impose tariffs on it. According to Washington, Mexican drug cartels illegally manufacture that sy…
Coverage Details
Bias Distribution
- 50% of the sources are Center
To view factuality data please Upgrade to Premium
