🚫Special Measures Against CIBanco, Intercam, and Vector by FinCEN
Imposition of Special Measures Prohibiting Certain Transmittals of Funds Involving CIBanco S.A., Institution de Banca Multiple, Intercam Banco S.A., Institución de Banca Multiple, and Vector Casa de Bolsa, S.A. de C.V.; Extension of Effective Date
Summary
FinCEN is issuing notice of an order amending its three June 2025 orders prohibiting certain transmittals of funds involving CIBanco S.A., Institution de Banca Multiple (CIBanco), Intercam Banco S.A., Instituci[oacute]n de Banca Multiple (Intercam), and Vector Casa de Bolsa, S.A. de C.V. (Vector), financial institutions operating outside of the United States determined to be of primary money laundering concern in connection with illicit opioid trafficking. This order extends the effective date of the three prior orders by 45 days, to September 4, 2025.
Agencies
- Treasury Department
- Financial Crimes Enforcement Network
Business Impact
$$$ - High
The regulatory order prohibits specific financial transactions with certain Mexican banks associated with money laundering, impacting compliance requirements for businesses. Companies engaging in cross-border transactions must assess their relationships with these institutions or face legal repercussions.