FinCEN issues its first orders under new fentanyl sanctions laws, targeting 3 Mexican FIs: CIBanco, Intercam, and Vector for laundering cartel-linked funds tied to fentanyl trafficking

FinCEN issues orders identifying three Mexico-based financial institutions—CIBanco S.A., Intercam Banco S.A., and Vector Casa de Bolsa S.A. de C.V.—as being of primary money laundering concern due to their involvement in illicit opioid trafficking. These actions, the first under the Fentanyl Sanctions Act and the FEND Off Fentanyl Act, prohibit certain transmittals of funds involving these institutions, effective 21 days after publication in the Federal Register…