Background on CIBanco and its Relevance
CIBanco is a prominent financial institution in Mexico, having been part of the country’s banking system for over 40 years. Known for its commitment to best practices, CIBanco has established itself as a solid and reliable entity within the Mexican financial landscape.
US Department of Treasury Allegations
On this Wednesday, the US Department of Treasury accused CIBanco, along with Intercam and Vector, of allegedly being involved in money laundering related to the trafficking of fentanyl. In response, CIBanco issued a statement outlining its adherence to stringent national and international regulations.
Regulatory Oversight
CIBanco emphasized that it is constantly supervised by several authorities, including the Secretariat of Finance and Public Credit (SHCP), the Bank of Mexico (Banxico), the National Banking and Securities Commission (CNBV), and the Bancary Savings Protection Institute (IPAB).
CIBanco’s Response to Allegations
In its statement, CIBanco clarified that it does not maintain any relationship with activities outside the law. The bank reiterated its full compliance with guidelines set by relevant authorities.
SHCP’s Official Stance
The SHCP issued an official statement saying, “In light of this, we requested the Department of Treasury to provide evidence linking these institutions; however, no probative data was received.”
CIBanco echoed this stance, stating that according to Mexican authorities’ reviews, “no elements have been identified that compromise the operation or actions of CIBanco.”
Normal Operations Continue
CIBanco assured its clients that their funds are protected under the Bancary Savings Protection Law, and bank operations continue without any disruptions.
The bank maintains open communication channels with both Mexican and US authorities, expressing its full willingness to cooperate.
Key Questions and Answers
- What are the allegations against CIBanco? The US Department of Treasury accused CIBanco, along with Intercam and Vector, of money laundering related to fentanyl trafficking.
- How has CIBanco responded to these allegations? CIBanco denied any involvement in illegal activities and emphasized its adherence to national and international regulations.
- Which authorities oversee CIBanco’s operations? CIBanco is supervised by the Secretariat of Finance and Public Credit (SHCP), the Bank of Mexico (Banxico), the National Banking and Securities Commission (CNBV), and the Bancary Savings Protection Institute (IPAB).
- What is the current status of CIBanco’s operations? CIBanco confirmed that its operations continue normally, with client funds protected under the Bancary Savings Protection Law.
