The US Financial Crimes Enforcement Network (FinCEN) issued orders identifying three Mexico-based financial institutions, CIBanco, Intercam Banco and Vector Casa de Bolsa, as primary money laundering concerns in connection with illicit opioid trafficking and prohibiting certain fund transfers involving each institution. The orders are FinCEN’s first actions under the Fentanyl Sanctions Act and the FEND Off Fentanyl Act, and were positioned as complementing recent US designations of major Mexico-based cartels as Foreign Terrorist Organizations and Specially Designated Global Terrorists. CIBanco and Intercam are commercial banks with more than USD 7bn and USD 4bn in total assets, respectively, and Vector is a brokerage managing nearly USD 11bn in assets. FinCEN linked the institutions to laundering activity and payment facilitation for Mexico-based cartels, including the Beltrán Leyva cartel, Jalisco New Generation Cartel (CJNG), Gulf Cartel and Sinaloa Cartel, and to payments supporting the procurement of fentanyl chemical precursors from China, citing examples that include an alleged USD 10m laundering account facilitated at CIBanco in 2023 and more than USD 2.1m in CIBanco-processed payments to China-based firms over 2021–2024. Under the orders, covered financial institutions are prohibited from transmitting funds to or from CIBanco, Intercam or Vector, including to or from any convertible virtual currency account or address administered by or on behalf of them. The prohibitions enter into force 21 days after publication in the Federal Register.
Financial Crimes Enforcement Network 2025-06-25
Financial Crimes Enforcement Network identifies CIBanco, Intercam and Vector as primary money laundering concerns and restricts certain fund transfers under the FEND Off Fentanyl Act
The US Financial Crimes Enforcement Network (FinCEN) has identified CIBanco, Intercam Banco, and Vector Casa de Bolsa as primary money laundering concerns linked to illicit opioid trafficking, prohibiting certain fund transfers. These actions, under the Fentanyl Sanctions Act and the FEND Off Fentanyl Act, complement recent US designations of major Mexico-based cartels as Foreign Terrorist Organizations. The orders prohibit covered financial institutions from transmitting funds to or from these entities, including convertible virtual currency accounts.