Mexico's Ministry of Finance & Public Credit published an information note responding to the US Treasury Department’s administrative and civil sanctions on two Mexican banks and a brokerage for alleged money laundering and links to organised crime. The ministry said Mexico’s National Banking and Securities Commission has opened reviews under domestic regulation and has so far found administrative issues, which have been sanctioned with fines and other actions totalling MXN 134 million, while stating it has not received evidence proving illicit activity by the institutions. The ministry said the US Treasury notified Mexico’s Financial Intelligence Unit (UIF) and the ministry of alleged irregularities, but did not provide corroborable proof despite a request. It added that the only verifiable information related to certain electronic transfers through the institutions involving legally incorporated Chinese companies, noting that UIF identified similar transactions to those companies by more than 300 Mexican firms through ten Mexican financial institutions in the context of USD 139 billion in annual Mexico–China trade. The ministry said it would act with the full weight of the law if conclusive evidence of illicit conduct becomes available.
Ministry of Finance & Public Credit (Mexico) 2025-06-25
Mexico's Ministry of Finance & Public Credit reports MXN 134 million in CNBV sanctions after reviews of two banks and a brokerage flagged by US Treasury
Mexico's Ministry of Finance addressed US Treasury sanctions on two Mexican banks and a brokerage for alleged money laundering, stating domestic reviews found only administrative issues, resulting in MXN 134 million in fines. The ministry noted the US Treasury's lack of corroborable proof and highlighted electronic transfers involving Chinese companies, with similar transactions identified by over 300 Mexican firms. It affirmed readiness to act if conclusive evidence of illicit conduct emerges.