U.S. Targets Mexican Banks Aiding Fentanyl Cartels

The U.S. Treasury’s FinCEN sanctioned CIBanco, Intercam Banco, and Vector Casa de Bolsa as primary money laundering concerns tied to fentanyl trafficking, citing facilitation of millions in cartel proceeds and payments for precursor chemicals to Chinese suppliers. Actions under the FEND Off Fentanyl and Fentanyl Sanctions Acts, aligned with a January 2025 executive order, bar U.S. financial institutions from transmitting funds involving these firms—including accounts and virtual currency addresses—effective 21 days after Federal Register publication.