Overview

• The U.S. Treasury recently named two Mexican banks and a securities firm for alleged money laundering tied to organized crime.
• President Claudia Sheinbaum says Mexico received no documentation that meets CNBV and UIF standards to substantiate the U.S. allegations.
• According to Sheinbaum, CNBV audits identified administrative irregularities but found no evidence of money laundering.
• Mexico’s Finance Ministry intervened to prevent capital flight and protect clients, and IPAB revoked CIBanco’s license and began liquidation.
• Owners of the affected institutions are coordinating with Hacienda to sell some assets or close others as Mexico requests formal evidence and tighter bilateral coordination.