In response to the allegations, which implicate a significant brokerage controlled by former chief of staff to President Andrés Manuel López Obrador, the firms have categorically denied any wrongdoing. The Ministry of Finance in Mexico has also questioned the validity of the accusations, seeking proof and asserting that the cited transactions were standard dealings with legitimate companies in China. As the conflict over drug trafficking continues to evolve, the stakes are rising for both nations involved.
U.S. Treasury Accuses Mexican Firms of Money Laundering Linked to Fentanyl Trade
U.S. Treasury Accuses Mexican Firms of Money Laundering Linked to Fentanyl Trade
The U.S. government’s crackdown on opioid trafficking intensifies as it singles out three Mexican financial institutions for alleged money laundering involving drug cartels.
The U.S. Treasury Department has leveled serious accusations against three financial firms in Mexico for allegedly laundering substantial amounts of money connected to fentanyl trafficking by drug cartels. As part of a wide-reaching initiative under the Trump administration to combat the illicit opioid trade, the targeted firms—Vector Casa de Bolsa, Intercam Banco, and CIBanco—are now facing prohibitions on certain financial transactions, a move likely to exacerbate already tense relations between the U.S. and Mexico.
