MEXICO CITY, (EFE) .- The Mexican financial sector is before the United States and regulators, after the accusations of the Treasury department that involve two banks and a country stock house for their alleged role in a money laundering network related to drug trafficking, especially to fentanil and other synthetic opioids.
The entities indicated are the CI Banco and Intercam and the Vector Bolsa house, and between the three there are active of about 440,000 million pesos together (22,000 million dollars). Since Thursday, they are temporarily intervened by the National Banking and Securities Commission (CNBV).
“Financial facilitators such as Cibanco, Intercam and Vector, are allowing the poisoning of innumerable Americans, by transferring money in the name of the cartels, which makes them key pieces in the fentanyl supply chain,” said Treasure Secretary, Scott Besent, when making the accusations public.
Two small banks, without systemic risk
CI BANCO, which has 214 branches in Mexico, has $ 7,000 million in assets, while Intercam has 60 branches and 4,000 million dollars in assets.
Between them they barely suppose 2% of the total assets of the Mexican banking sector.
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“Banks, like any business, require financing lines, there were some problems in financing lines for these financial institutions. They are small -scale banks that go to the market to be financed. We did not want to take risks, the important thing is to protect the savers and protect the integrity of the financial system,” said the Secretary of the Treasury, Edgar Amador Zamora, justifying the intervention of the federal government.
A Bolsa house near an AMLO advisor
Vector Casa de Bolsa was founded by Alfonso Romo, businessman and before head of the Presidency’s office during the mandate of Andrés Manuel López Obrador. Financial Regulator data suggests that it manages assets for 11,000 million pesos.
This institution also operates in the currency market and investment funds and presents Raúl Gerardo Farías Arizpe as president of its Board of Directors.
The three signatures have denied the accusations and have been open to collaborate with the regulatory authorities.
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The government asks for “evidence”
In the midst of these accusations, President Claudia Sheinbaum demanded that US authorities present “evidence” on accusations and argued that they are only “sayings”; Although he pointed out that, if the illegal activities were verified, there would be an impunity.
The Ministry of Finance explained that, although the treasure notified before the announcement to the Financial Intelligence Unit, it has not delivered evidence that supports the links between financial institutions and crimes.
Until now, financial entities and the government have specified that the only verifiable evidence are ordinary transfers between Mexican companies and legally constituted Chinese firms, in the context of a bilateral trade of more than 139,000 million dollars annually.
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