USA remains three Banks in Mexico on suspicion of liaison with cartels and money laundering

For the first time, US officials imposed sanctions on three Mexican financial institutions on suspicion of involvement with drug cartels and money laundering operations. The measure was announced on Tuesday, 25, by the Financial Crime Repression Network (Fincen), a body linked to the US Treasury Department.

According to the official statement, Banks Cibanco, Intercam and Vector were classified as “main sources of concern for money laundering related to illicit opioid trafficking”. Sanctions involve the prohibition of certain financial transfers linked to these institutions.

“The US Treasury Department’s Financial Crime Repression Network has issued orders by identifying three financial institutions based in Mexico – Cibanco, Intercam and Vector – as main sources of concern for money laundering related to the illicit trafficking of opioids and prohibiting, respectively, certain transfers of funds involved respectively involving [esses bancos]”, Says the text released to the press.

Jalisco and Gulf cartels are cited as targets of the action

According to Fincen, the banks investigated would be related to organized crime groups, including the Jalisco Cartel Nueva Generación and the Gulf Cartel. Both are lists of US -monitored organizations and have a history of involvement in drug trafficking, especially fentanyl and other synthetic substances.

US Treasury Secretary Scott Bessent stressed that this is the first time the country uses this type of legal instrument against foreign banking institutions.

“Through the first use of this powerful authority, today’s actions [25] They reaffirm Treasury’s commitment to use all the tools at our disposal to combat the threat represented by criminal and terrorist organizations who traffic Fentanil and other narcotics, ”he said.

Mexico asks for evidence and denies having received conclusive data

In response to the measures adopted by the United States, Mexico’s Ministry of Finance and Public Credit said it has not received any concrete information proving alleged ties between the three banks and criminal organizations.

“We want to make it clear: if we have conclusive information that proves illicit activities by these three financial institutions, we will act with all the rigor of the law. However, so far, we do not have this information,” the folder said in an official note.

The Mexican government confirmed that it was informed about possible irregularities in the three institutions through formal channels, such as the Financial Intelligence Unit (UIF), but indicated that it requested additional documents to continue the findings. “No supporting information was received in this regard,” he added.

Bilateral cooperation continues despite the differences

Even in the face of the lack of evidence provided so far, the authorities of both countries have publicly reinforced their joint commitment to combat transnational crimes. The American statement points out that there are coordinated efforts among governments to face threats from cards that work in drug trafficking and illicit financing schemes.

“Both the United States and Mexico are committed to financial systems with strong controls against money laundering and terrorism financing, [a fim de] Effectively protect their citizens from transnational illicit financial threats from cartels who traffic fentanil and other drugs, ”the statement adds.

Six Mexican cartels have already been designated as terrorists

Actions against financial institutions occur in a more rigorous context on the part of the American authorities in relation to international drug trafficking. On February 19, the US State Department classified several criminal groups as terrorist organizations. Among them are six Mexican cartels: Cartel de Sinaloa, cartel of the new generation of Jalisco, United Cartels, Northeast Cartel, Gulf Cartel and Nova Michoacán family.

The designation expands the scope of actions that can be adopted by the US government, such as blocking goods, restrictions of visas and sanctions against companies and individuals who maintain ties with these groups.

Financial measures expand pressure on Mexican banking system

With the inclusion of Cibanco, intercam and vector in Fincen’s priority list, the United States restricts financial movements involving these institutions. The decision may impact the international reputation of banks and restrict their access to the global financial system.

The measure also pressures Mexican authorities to intensify their supervision mechanisms, especially in the face of increasing international surveillance on the role of financial institutions in facilitating suspicious transactions associated with criminal organizations.

The case is still in the calculation phase and no dates have been disclosed for any restriction revisions. Meanwhile, the Mexican government is awaiting the sending of evidence by the American Treasury to determine the next steps.

With information from Sputnik