Overview

• The CNBV finalized sanctions of more than 185 million pesos, including 42 penalties for anti-money laundering compliance failures totaling 156.8 million pesos.
• Intercam received the most fines with 26 infractions amounting to 92.1 million pesos, followed by CIBanco’s penalties totaling 66.6 million pesos and Vector’s six infractions for 26.4 million pesos.
• In late June FinCEN designated CIBanco, Intercam and Vector as primary money-laundering concerns over links to fentanyl precursor chemicals.
• The US Treasury granted a 45-day extension until September 4 before enforcing prohibitions on certain fund transfers involving the three institutions.
• Mexican authorities state that the sanctions address administrative irregularities rather than proven criminal conduct and confirm no open investigations by the Fiscalía General de la República.