Mexico’s National Banking and Securities Commission (CNBV) has officially announced a temporary managerial intervention of CI Banco and Intercam Banco, following allegations by the U.S. Treasury Department that both institutions facilitated money laundering for fentanyl-trafficking cartels. The decision, approved by the CNBV’s governing board, grants regulators control over key operational areas to ensure compliance with Mexican financial law and international anti-money laundering standards.
The move comes after the U.S. Financial Crimes Enforcement Network (FinCEN) identified the banks as being of “primary money laundering concern.” While both banks have denied wrongdoing, Mexican authorities say the intervention is precautionary and will remain in effect while investigations continue. The decision underscores the growing financial and diplomatic pressure to combat narcotrafficking through joint enforcement measures.
