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Visa Suspends International Transactions Made with CIBanco Cards
23 Articles
23 Articles
Visa suspends international transactions made with CIBanco cards
Visa has suspended international transactions for cards issued by CIBanco, a Mexican commercial bank that offers financial services to individuals and companies, following allegations of money laundering by the Financial Crimes Enforcement Network (FinCEN) of the U.S. Treasury. CIBanco, with over US $7 billion in assets, confirmed the unilateral decision by Visa, which was announced suddenly on Sunday and took effect on Monday afternoon. S&P G…
Visa, the global payment processor, disconnected from its platform all international card transactions issued by CIBanco, an institution that along with Intercam and Vector was accused last week by the U.S. government of facilitating money laundering to criminal organizations.
CIBanco accumulates one more ‘punishment’ after being accused of laundering money for Mexican cartels: The institution reported that the financial payment company Visa disconnected its cards for all international transactions. “This measure was suddenly announced to us on Sunday, June 29 at 8:00 p.m. and, ratified until Monday, June 30 at 12:30 p.m., which will take effect from 2:00 p.m. in Mexico,” he explained in a statement. The financial ins…
Postgraduate fellows were left without access to their support following the disconnection of CIBanco from the Visa system, resulting from a money laundering investigation in the United States.
It is not the first time that a card stops working abroad and that the user blames the bank. But ... Visa ticket suspends international operations of CIBanco on accusations of narcowashing aparece primero en LJA Aguascalientes.
The U.S. government imposed financial restrictions on CI Banco, considering that it has facilitated operations linked to the laundering of drug money, in particular the trafficking of opioids such as fentanyl. The measure was announced on Tuesday, July 1, by the Financial Crimes Control Network (FinCEN) of the Treasury Department. According to the U.S. government, CI Banco was used by organized crime groups, such as the Jalisco Nueva Generación …
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