The U.S. Treasury Department has launched a significant accusation against three Mexican financial companies, alleging their involvement in laundering millions of dollars linked to fentanyl drug trafficking, an ongoing concern for the Trump administration as it intensifies its fight against illegal opioids. The companies named are Vector Casa de Bolsa, Intercam Banco, and CIBanco, and the action also restricts certain financial transactions involving these firms.
The situation could escalate tensions between the U.S. and Mexico, particularly since the Trump administration already classifies some Mexican drug cartels as foreign terrorist organizations. President Claudia Sheinbaum of Mexico has responded by increasing the country's enforcement against fentanyl trafficking and detaining cartel members for transfer to U.S. authorities.
Notably, Vector is a significant brokerage controlled by Alfonso Romo, a prominent businessman and former chief of staff to ex-President Andrés Manuel López Obrador. The firm strongly denies the allegations, insisting they adhere to strict regulations and that the transactions in question were routine dealings with legitimate businesses.
In response, Mexico's Finance Ministry demanded proof of any illicit activities linked to the firms. They asserted that the wire transfers flagged by the U.S. had been made to legal entities in China and occur frequently between Mexican and Chinese corporations, further complicating the issue at hand.
The situation could escalate tensions between the U.S. and Mexico, particularly since the Trump administration already classifies some Mexican drug cartels as foreign terrorist organizations. President Claudia Sheinbaum of Mexico has responded by increasing the country's enforcement against fentanyl trafficking and detaining cartel members for transfer to U.S. authorities.
Notably, Vector is a significant brokerage controlled by Alfonso Romo, a prominent businessman and former chief of staff to ex-President Andrés Manuel López Obrador. The firm strongly denies the allegations, insisting they adhere to strict regulations and that the transactions in question were routine dealings with legitimate businesses.
In response, Mexico's Finance Ministry demanded proof of any illicit activities linked to the firms. They asserted that the wire transfers flagged by the U.S. had been made to legal entities in China and occur frequently between Mexican and Chinese corporations, further complicating the issue at hand.
