The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) has taken decisive action against three financial institutions in Mexico, marking the first use of powers granted under the Fentanyl Sanctions Act and the FEND Off Fentanyl Act. The institutions—CIBanco S.A., Intercam Banco S.A., and Vector Casa de Bolsa, S.A.—have been identified as primary money laundering concerns related to illicit opioid trafficking.
These measures aim to disrupt financial activities that support fentanyl trafficking by Mexican cartels. "Financial facilitators like CIBanco, Intercam, and Vector are enabling the poisoning of countless Americans by moving money on behalf of cartels," stated Secretary of the Treasury Scott Bessent. He emphasized that these actions demonstrate a commitment to countering threats from criminal organizations involved in narcotics trafficking.
The orders issued by FinCEN prohibit certain fund transmittals involving these institutions. CIBanco and Intercam are commercial banks with significant assets, while Vector is a brokerage firm managing substantial funds. These entities have been implicated in facilitating payments for precursor chemicals necessary for fentanyl production.
CIBanco has allegedly engaged in transactions supporting cartels such as Beltran-Leyva and Jalisco New Generation Cartel (CJNG). In 2023, a CIBanco employee reportedly facilitated an account creation to launder $10 million for a Gulf Cartel member. Between 2021 and 2024, over $2.1 million was processed through CIBanco for illicit purposes.
Intercam is accused of engaging with CJNG members to discuss money laundering schemes involving funds transfers from China. A China-based company linked to precursor chemical shipments received over $1.5 million via Intercam from 2021 through 2024.
Vector is alleged to have facilitated money laundering activities for cartels including Sinaloa and Gulf Cartel. From 2013 through 2021, methods were employed by a cartel associate to launder $2 million through Vector. Additionally, over $1 million was paid through Vector from 2018 through 2023 for precursor chemicals.
This initiative forms part of broader efforts under the Trump Administration to combat drug cartels and prevent drug inflow into the United States. An Executive Order issued in January 2025 established processes for designating certain organizations as Foreign Terrorist Organizations or Specially Designated Global Terrorists.
FinCEN's prohibitions will take effect 21 days after publication in the Federal Register, restricting covered financial institutions from transacting with CIBanco, Intercam, or Vector.
Questions regarding these orders can be directed to www.fincen.gov/contact.
