US Sanctions CIBanco, Intercam, Vector for Money Laundering

The US Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has sanctioned CIBanco, Intercam Banco, and Vector Casa de Bolsa, alleging their involvement in laundering funds linked to fentanyl trafficking. The move bans US financial institutions from conducting transactions with these entities.

This marks FinCEN’s first enforcement action under the Fentanyl Sanctions Act and the FEND Off Fentanyl Act, targeting financial networks tied to synthetic opioid trafficking.

Treasury Secretary Scott Bessent stated the institutions played a “critical role” in facilitating cartel operations, enabling the flow of drug proceeds and financing precursor chemicals. He condemned their actions as contributing to the fentanyl crisis, which he said has devastated countless American lives.

Effective 21 days after publication in the Federal Register, the sanctions include a ban on fund transfers, including those involving cryptocurrency wallets linked to the accused entities.

According to FinCEN, CIBanco facilitated chemical precursor purchases from China, Intercam processed US dollar transactions for drug trafficking groups, and Vector supported money laundering for cartels, including the Sinaloa and Gulf Cartels.

The announcement aligns with a recent visit to Mexico by Anna Morris, Acting Assistant Secretary of the Treasury, who highlighted the importance of targeting cartel-linked financial networks. US Ambassador Ronald Johnson praised the initiative, calling it vital for bilateral security efforts.

The sanctions follow a January 2025 executive order by President Donald Trump enabling the designation of Mexican cartels as foreign terrorist organizations.

Mexican President Claudia Sheinbaum Pardo pushed back during her morning press briefing, stating, “There is no evidence—just claims. We have asked the US Treasury for more information on these alleged transactions.” She noted that large-scale transactions reportedly involved Chinese and Mexican firms.

Mexico’s Ministry of Finance and Public Credit (SHCP) also denied evidence of wrongdoing by the targeted institutions but acknowledged the reputational risks for Mexico’s financial system.

Nota informativa sobre investigaciones en el sector financiero.https://t.co/BJk6lZEgAO#ComunicadoHacienda pic.twitter.com/K8bkmLXIWe

— Hacienda (@Hacienda_Mexico) June 25, 2025