Mexican Finance Ministry says it has not obtained proof to assist claims towards CIBanco, Intercam and Vector banks.
America has imposed sanctions on three Mexican banks, alleging that they had been used to launder cash for drug cartels.
On Wednesday, the US Division of the Treasury tied the banks – CIBanco, Intercam Banco and Vector Casa de Bolsa – to the cross-border trafficking of the lethal artificial drug fentanyl.
It accused them of taking part in “a longstanding and very important function in laundering tens of millions of {dollars} on behalf of Mexico-based cartels and facilitating funds for the procurement of precursor chemical substances wanted to supply fentanyl”.
The sanctions are a part of a wider strain marketing campaign by the administration of US President Donald Trump towards Latin American gangs, legal networks and drug traffickers.
That marketing campaign has included designating a number of teams as “international terrorist organisations” and utilizing tariffs to pressure Mexico’s authorities to extend enforcement of irregular site visitors throughout the border.
In an announcement, the Treasury Division mentioned the banks have been the primary to be focused below new items of laws – the Fentanyl Sanctions Act and the FEND Off Fentanyl Act – handed to broaden its means to focus on cash laundering associated to opioid trafficking.
The sanctions would block transfers between the focused Mexican banks and US banks, though it was not instantly clear how far-reaching the boundaries could be.
In an announcement, Secretary of the Treasury Scott Bessent accused the banks of “enabling the poisoning of numerous People by shifting cash on behalf of cartels, making them very important cogs within the fentanyl provide chain”.
However Mexico’s Secretariat of Finance and Public Credit score responded to the sanctions by saying it had but to obtain conclusive proof justifying them.
“We need to be clear: If we’ve got conclusive data proving illicit actions by these three monetary establishments, we’ll act to the fullest extent of the regulation,” the Finance Ministry mentioned.
“Nevertheless, to this point, we’ve got no data on this regard.”
CIBanco didn’t instantly reply to the allegations. The US Treasury Division accused it of being linked to cash laundering by the Beltran-Leyva Cartel, the Jalisco New Era Cartel (CJNG) and the Gulf Cartel.
Intercam, which can be accused of getting connections to the CJNG cartel, additionally didn’t reply.
In the meantime, the brokerage agency Vector, which was linked to cash laundering by the Sinaloa Cartel and Gulf Cartel, mentioned the US claims tying its operations to drug traffickers have been false.
“Vector categorically rejects any accusation that compromises its institutional integrity,” the corporate mentioned in an announcement, including that it could cooperate to make clear the state of affairs.
