Banking institutions have controls and comply with the rules to combat money laundering, said the Association of Banks of Mexico (ABM), a day after the US Department of the Treasury pointed to Cibanco, Intercam Banco and Vector Casa de Bolsa of said crime.
“The prevention of illicit activities and the protection of legality are strategic priorities for banks operating in Mexico,” said the agency led by Emilio Romano.
“Therefore, we have promoted robust mechanisms of regulatory compliance, audit and control, which operate under the highest international quality standards, and from the bank we always maintain a firm disposition towards the continuous improvement of these practices,” added the ABM.
The ABM added that it maintains a constant collaboration and dialogue with the financial, regulatory authorities, and with the banking institutions that integrate it.
“All this with the aim of protecting the savings of Mexicans, strengthening transparency and preserving the strength of the national banking system, which today records historical levels of capitalization and liquidity,” he said.
Regarding the announcement made by the National Banking and Securities Commission (CNBV) on which it will intervene to Cibanco and Interm, the ABM said that particular situations do not represent a systemic risk or affect the stability of the Mexican financial system.
“The financial system remains solid and well capitalized; the announced intervention seeks to create an environment of certainty that allows institutions to operate normally during the time required to ensure that these institutions comply with the regulatory standards. This measure provides clarity and stability, without interrupting the regular operation of the banks in question,” said the ABM.
The agency mentioned that it will remain attentive to the determinations made by the competent authorities in this regard.
Yesterday, the Financial Crime Control Network (FINCEN) of the United States Department of the Treasury issued orders that identify three financial institutions based in Mexico, Cibanco, Multiple Banking Institution (CIBANCO), INTERM BANCO, Multiple Banking Institution (Inter -Cam) and Vector Casa de Bolsa, as main sources of concern in matters of money laundering in relation to illicit traffic of opioids.
EU Treasury also prohibited certain transfers of funds that involve these financial institutions.
“These orders are the first actions of the FINCEN by virtue of the law of sanctions against fentanil and the FEND OFF Fentanyl Law, which grant the Treasury additional powers to combat the money laundering associated with the traffic of fentanil and other synthetic opioids, including by cartels,” the US dependence reported yesterday in a statement.
The US Treasury said that Cibanco and Intercam, commercial banks with more than 7 billion dollars and 4 billion dollars in total assets, respectively, and vector, a brokerage firm that manages almost 11 billion dollars in assets, “they have jointly played a key and prolonged role in the washing of millions of dollars in the name of the cartels based in Mexico and in the facilitation of payments for the acquisition of chemical necessary for fentanyl production. ”
President Claudia Sheinbaum asked the United States government on Thursday to present “evidence” about accusations against financial entities CI BANCO, INTERM and VECTOR Casa de Bolsa for their alleged links with illicit operations such as money laundering linked to drug trafficking.
“There is no evidence, they are sayings. But there is no evidence where the money laundering is. So what is our position? If there is evidence, it acts. There is no impunity. No matter who it is. But there is no evidence, because you cannot act, as in any crime,” said the president during her morning press conference.
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