FinCEN calls out CIBanco, Intercam, and Vector for helping cartels move dirty money
It’s not every day the U.S. Treasury drops the financial equivalent of a mic. But that’s exactly what happened this week when they named and shamed three Mexico-based financial institutions—CIBanco, Intercam, and Vector Casa de Bolsa—for allegedly helping drug cartels clean up their mess. And by mess, we mean millions of dollars linked to fentanyl trafficking.
Yep, according to the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN), these institutions aren’t just looking the other way—they’re playing an active role in moving money for some of Mexico’s most notorious drug cartels. Think Sinaloa, CJNG, Beltrán-Leyva, and the ever-charming Gulf Cartel.
This move marks the first-ever use of new powers granted under the Fentanyl Sanctions Act and the FEND Off Fentanyl Act—which, if nothing else, win the award for most dramatic legislation names of the year. These laws give FinCEN the green light to cut financial lifelines tied to opioid trafficking. And CIBanco, Intercam, and Vector? They just got their financial passports revoked.
Dirty Money and Clean Hands? Not Quite.
Let’s break it down:
- CIBanco, a commercial bank with over $7 billion in assets, is accused of processing more than $2.1 million in payments between Mexican companies and chemical suppliers in China—specifically for ingredients used to cook up fentanyl. FinCEN says a CIBanco employee even helped create an account to launder $10 million for a Gulf Cartel member. That’s not exactly in the job description.
- Intercam, another commercial bank (with a cool $4 billion under management), also allegedly helped cartels wire cash to Chinese chemical companies. Even worse? Executives at Intercam reportedly met face-to-face with CJNG members in 2022 to chat about how to shuffle money around discreetly. Bold move, considering FaceTime exists.
- Then there’s Vector, a brokerage firm managing close to $11 billion in assets. FinCEN claims Vector facilitated multiple payments for chemical imports and let a Sinaloa Cartel mule launder $2 million through them over nearly a decade. Maybe that’s what they meant by “diversified portfolio.”
What Happens Now?
These banks are now under the financial version of house arrest. U.S. institutions are banned from sending or receiving any money to or from them—including via cryptocurrency wallets. The restrictions take effect 21 days after the official notice is published in the Federal Register. (So, mark your calendars. Or don’t—it’s not like you were planning to send money to a cartel anyway.)
Secretary of the Treasury Scott Bessent didn’t mince words: “Financial facilitators like CIBanco, Intercam, and Vector are enabling the poisoning of countless Americans by moving money on behalf of cartels.” In other words, don’t let their sleek bank branches and business attire fool you—FinCEN says they’re just as dangerous as the guys with guns.
And What About Mexico?
Here’s the diplomatic twist: the Treasury insists this crackdown was done with Mexico’s full cooperation. Both countries, according to the official line, are committed to protecting their citizens from the financial tentacles of transnational criminal networks. (Let’s hope the cooperation lasts longer than a tequila hangover.)
Bigger Picture
These designations come on the heels of a January 2025 executive order from President Trump, declaring that certain cartels should be treated like Foreign Terrorist Organizations. And yes, several major cartels—including CJNG and Sinaloa—are now officially on that list. So today’s bank smackdown? Just part of the larger crackdown.
Bottom line? If you bank with one of these three institutions, now might be a good time to double-check where your money’s going. And if you’re a cartel? Well, looks like it’s back to stuffing cash in duffel bags.
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Got questions about your bank? Ask your teller if they’ve been sanctioned today. If they say yes—run.
