Puerto Vallarta, Jalisco, Mexico – U.S. citizens residing in Puerto Vallarta and across Mexico who use certain Mexican financial institutions, including CIBanco S.A., Institución de Banca Múltiple, Intercam Banco S.A., Institución de Banca Múltiple, and Vector Casa de Bolsa, S.A. de C.V., must be aware of significant new restrictions on money transfers.
On June 25, 2025, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued orders identifying these three institutions as being of primary money laundering concern. FinCEN alleges their involvement in illicit opioid trafficking, specifically in laundering millions of dollars for Mexican cartels and facilitating the purchase of precursor chemicals used to produce fentanyl.
These groundbreaking orders are the first actions taken by FinCEN under the recently enacted Fentanyl Sanctions Act and the FEND Off Fentanyl Act. These new laws grant the Treasury Department increased authority to target financial networks that support the trafficking of fentanyl and other synthetic opioids.
Key Restrictions and What They Mean for You:
As a direct consequence of these designations, U.S. financial institutions are now prohibited from engaging in certain money transfers to or from CIBanco, Intercam, and Vector. This includes transactions to or from any accounts or convertible virtual currency addresses managed by or on behalf of these three institutions. These prohibitions are scheduled to become effective 21 days after their publication in the Federal Register.
If you are a U.S. citizen in Puerto Vallarta or elsewhere in Mexico and conduct financial transactions with CIBanco, Intercam, or Vector, particularly for sending or receiving funds to or from the United States, you may face substantial disruptions. The U.S. Treasury’s orders aim to effectively sever these Mexican institutions from the U.S. financial system.
Potential Impacts on Your Finances:
- Receiving Funds from the U.S.: Remittances, pension payments, or other transfers originating from U.S. banks or financial services and intended for your accounts at CIBanco, Intercam, or Vector may be blocked.
- Sending Funds to the U.S.: Transfers initiated from your accounts at these institutions to U.S. banks or individuals may also be affected.
FinCEN’s investigations outline specific allegations against each institution:
CIBanco: Accused of facilitating illicit opioid trafficking by cartels like the Beltran-Leyva, Jalisco New Generation Cartel (CJNG), and Gulf Cartel. For example, a CIBanco employee allegedly helped create an account to launder $10 million for a Gulf Cartel member, and the bank processed millions in payments for precursor chemicals from China.
Intercam: Alleged to have facilitated illicit opioid trafficking, notably by the CJNG. Intercam executives reportedly met with suspected CJNG members to discuss money laundering, including transfers from China, and processed significant payments to Chinese companies supplying precursor chemicals.
Vector: Implicated in facilitating money laundering for cartels, including the Sinaloa Cartel and Gulf Cartel. Examples include a Sinaloa Cartel money mule laundering $2 million through Vector and the firm processing over $1 million in payments for illicit precursor chemicals.
While these Mexican financial institutions may state that they are operating normally and deny the allegations, the U.S. prohibition on American financial institutions dealing with them will directly impact your ability to conduct cross-border transactions through these specific entities.
It is strongly advised for U.S. citizens relying on CIBanco, Intercam, or Vector for U.S.-related transactions to immediately review their current banking arrangements and explore alternative methods for managing their finances between Mexico and the United States to avoid potential service interruptions. Further details on the implementation of these prohibitions are anticipated.
Frequently asked questions are available HERE.
Source: U.S. Department of the Treasury
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