Are Mexican Banks Really Laundering Cartel Money?

Mexican President Claudia Sheinbaum responded forcefully to new U.S. sanctions imposed by the Trump administration on three Mexican financial institutions—CIBanco, Intercam Banco, and Vector Casa de Bolsa—accused of facilitating millions of dollars in transfers for drug cartels. Sheinbaum criticized the U.S. Treasury Department for failing to provide any evidence of money laundering despite repeated requests, insisting that allegations must be backed by strong proof rather than words.

The sanctioned banks also rejected the accusations, with statements from Vector and Intercam denying any illegal activity and calling the claims unfounded and damaging to their reputations. In response to the sanctions, Mexican financial authorities temporarily took over management of CIBanco and Intercam Banco to protect creditors, while Sheinbaum emphasized that Mexico will not cover for anyone but demands respect and evidence-based action from the U.S. government.

Source: The Guardian