FinCEN Targets Mexico Banks Over Cartel Money Laundering
The U.S. Financial Crimes Enforcement Network (FinCEN) has officially named three Mexico-based banks as "primary money laundering concerns" under Section 311 of the USA PATRIOT Act and expanded authorities given to it by the FEND Off Fentanyl Act (FOFA). This is a big step in enforcement.
The move, which was made public on June 25, 2025, is the first time FinCEN has used its fentanyl-related authority to stop money from going to cartels. The names are aimed at:
CIBanco S.A.
Intercam Banco S.A.
Vector Casa de Bolsa S.A. de C.V. is one of Mexico's biggest broking firms and manages about $11 billion in assets.
FinCEN has pushed back its original September 4 deadline for U.S. banks, remittance companies, and money service organisations to stop sending money to these companies until October 20, 2025.
