Overview

• The Treasury Department identified CIBanco, Intercam and Vector—which together manage about $22 billion in assets—as key facilitators in laundering cartel proceeds and arranging fentanyl precursor payments.
• American financial institutions are now prohibited from conducting certain transactions with the sanctioned Mexican entities to sever critical funding channels.
• Officials say CIBanco maintained a pattern of servicing the Gulf Cartel, Jalisco New Generation Cartel and Beltran-Leyva Cartel through accounts and transactions.
• Investigators allege that Intercam executives met with Jalisco New Generation Cartel members to coordinate money-laundering schemes, including transactions routed through China.
• A probe found that Vector aided the Gulf and Sinaloa cartels in procuring fentanyl precursor chemicals and processed $2 million for Sinaloa operatives between 2013 and 2021.