US Edition
Money Laundering Crisis Puts Mexican Banking—and Progress—to the Test
2 Articles
2 Articles
CIBanco faces the biggest institutional crisis since its transformation into a bank: after being pointed out by the U.S. Treasury Department to facilitate money laundering operations for criminal organizations, various companies and real estate investment trusts (fibres) have begun to disassociate themselves from the institution and have replaced it as a fiduciary in key structures.
Money Laundering Crisis Puts Mexican Banking—and Progress—to the Test
Mexican banks are under intense pressure after US Treasury officials restricted three major lenders—CIBanco, Intercam, and Vector—for failing to stop money laundering tied to criminal groups. These actions, confirmed by official US and Mexican agencies, froze many global transactions and caused wealthy clients to pull their money out fast. The crackdown comes as Mexico updates […]
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