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Financial Corporations in Mexico Hold Anchor Despite Allegations of Laundering in the u.s.
16 Articles
16 Articles
CIBanco has become the biggest ‘headache’ for the Mexican financial system, following accusations by the U.S. Treasury Department that involve it in a money laundering network linked to drug cartels, especially fentanyl and other synthetic opioids. This entity, together with Intercam and Vector Casa de Bolsa, has assets of about 440 billion pesos as a whole and, since last Thursday, 26 June, has been temporarily intervened by the National Bankin…
Reforma
eldiariodechihuahua.mxCFE fiber informs that it will maintain CIBanco as administrator, in spite of allegations of money laundering by the United States.
Mexico City, 2 Jul (EFE).- Mexico's Multi-Objective Financial Corporations (Sofomes) ruled out Wednesday that the recent accusations by the U.S. Treasury Department against entities such as CIBank, Intercam and Vector Casa de Bolsa for alleged money laundering and financing of organized crime, affect their access to anchoring or pose a risk to their operation.During the Regional Meeting of the Mexican Association of Sofomes (Asofom) at the Banke…
Intercam and CIBanco, banks designated by the U.S. government as facilitators of money laundering for criminal organizations that are involved, have no restrictions to operate with the rest of the participants in the financial sector, individuals or morals and even trusts in the country, announced the Association of Banks of Mexico (ABM).
The PRI bench accuses of “almost absolute silence” for alleged money laundering of drug cartels Rafael Ramírez OEM-Reportax The PRI parliamentary group in the Senate requested the appearance of the heads of the Treasury, the National Banking and Securities Commission (CNBV) and the Financial Intelligence Unit (UIF) before the Permanent Commission following accusations by the US government that link CIBanco, Vector and Exchange financial institu…
The issues that have CIBanco as fiduciary are protected by the legal framework with which the contracts are structured, which allows to mitigate the risks that could arise from the allegations against the institution for alleged money laundering, considered Fitch Ratings. The legal framework obliges the fiduciary to keep the portfolios of assets in trusts. In addition, they state that the assets belong to the trust or to the owners of the debt o…
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