Regulatory Alerts2025-06-25
Imposition of Special Measure Prohibiting Certain Transmittals of Funds Involving Intercam Banco S.A.
The Financial Crimes Enforcement Network issued an order prohibiting certain transmittals of funds involving Intercam Banco S.A., a Mexico-based commercial bank determined to be of primary money laundering concern in connection with illicit opioid trafficking. This action is authorized under the FEND Off Fentanyl Act, which grants the Treasury Secretary authority to impose special measures against foreign financial institutions facilitating money laundering for drug trafficking organizations such as the CJNG. The prohibition targets funds transfers processed by Intercam that finance the importation of precursor chemicals or launder proceeds from illicit opioid activities, while expressly excluding the bank's U.S.-based subsidiaries from the order's scope.