The U.S. Treasury Department prohibited certain transactions with multiple Mexican-based financial institutions under the Fentanyl Sanctions Act and FEND Off Fentanyl Act.

“Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued orders identifying three Mexico-based financial institutions—CIBanco S.A., Institution de Banca Multiple (CIBanco), Intercam Banco S.A., Institución de Banca Multiple (Intercam), and Vector Casa de Bolsa, S.A. de C.V. (Vector)—as being of primary money laundering concern in connection with illicit opioid trafficking, and prohibit, respectively, certain transmittals of funds involving CIBanco, Intercam, and Vector,” the Treasury Department stated.

“These orders are the first actions by FinCEN pursuant to the Fentanyl Sanctions Act and the FEND Off Fentanyl Act, which provide Treasury with additional authorities to target money laundering associated with the trafficking of fentanyl and other synthetic opioids, including by cartels,” it added.

Treasury sanctions 3 banks over alleged cartel money laundering https://t.co/PjidgzFGjO

— John Solomon (@jsolomonReports) June 26, 2025

From the U.S. Department of Treasury:

CIBanco and Intercam, commercial banks with over $7 and $4 billion in total assets, respectively, and Vector, a brokerage firm managing nearly $11 billion in assets, have collectively played a longstanding and vital role in laundering millions of dollars on behalf of Mexico-based cartels and facilitating payments for the procurement of precursor chemicals needed to produce fentanyl.

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“Financial facilitators like CIBanco, Intercam, and Vector are enabling the poisoning of countless Americans by moving money on behalf of cartels, making them vital cogs in the fentanyl supply chain,” said Secretary of the Treasury Scott Bessent. “Through the first use of this powerful authority, today’s actions affirm Treasury’s commitment to using all tools at our disposal to counter the threat posed by criminal and terrorist organizations trafficking fentanyl and other narcotics.”

These actions were taken within the broad context of the strong U.S.-Mexico inter-governmental relationship, the hallmarks of which include close collaboration and timely information exchange. Both the United States and Mexico are committed to financial systems with strong anti-money laundering/countering the financing of terrorism (AML/CFT) controls that effectively protect their citizens from the transnational illicit finance threats of cartels trafficking fentanyl and other drugs.

Today the U.S. Treasury prohibited certain transactions with Mexico-based financial institutions CIBanco, Intercam Banco and Vector Casa de Bolsa as part of its new fentanyl sanctions authorities. The 3 are accused of money laundering by the Fentanyl Sanctions Act. pic.twitter.com/gesPkO4Svx

— Armando Guzman (@Armandoreporta) June 25, 2025

Per Reuters:

Experts said the move, although targeting relatively small institutions, could have significant impact on Mexico’s financial system given the interconnectedness between banks and the close business relationship with the United States.

Although sanctions against individuals and companies for links to Mexican organized crime groups are fairly frequent, measures against financial institutions are far less common.

The sanctions also add another potential obstacle to easing U.S.-Mexico trade tensions over U.S. President Donald Trump’s 25% punitive tariffs on many imports from Mexico, which are aimed at spurring action to halt the flow of fentanyl into the U.S.

Mexico’s Finance Ministry said in a statement that it was notified of the FinCEN investigation and asked the Treasury for evidence of illicit activity links to CIBanco, Intercam and Vector, but received no “conclusive information.”