Regulatory Alerts2025-06-25
Imposition of Special Measure Prohibiting Certain Transmittals of Funds Involving CIBanco S.A.
The Financial Crimes Enforcement Network issued an order prohibiting certain transmittals of funds involving CIBanco S.A., a Mexico-based commercial bank, due to its status as a primary money laundering concern connected to illicit opioid trafficking. FinCEN determined that the bank facilitated transactions for designated drug trafficking organizations, including the Gulf Cartel, the Beltran-Leyva Organization, and the Jalisco New Generation Cartel, by providing services that enabled the movement of illicit proceeds and precursor chemicals. This special measure, authorized under the FEND Off Fentanyl Act, requires covered domestic financial institutions to restrict fund transmittals involving CIBanco to defend the U.S. financial system from associated money laundering risks.