U.S. Treasury Targets Mexican Firms Over Fentanyl Laundering Allegations

In a significant move, the U.S. Treasury has accused three Mexican financial firms of being involved in money laundering activities related to fentanyl trafficking by drug cartels. The firms implicated are Vector Casa de Bolsa, Intercam Banco, and CIBanco. This development, announced on June 25, 2025, marks a continued effort by the Trump administration to intensify its crackdown on the opioid crisis, particularly against Mexican drug cartels designated as foreign terrorist organizations.

The accusations have raised questions in Mexico due to their impact on Vector Casa de Bolsa, a notable brokerage led by Alfonso Romo, a former chief of staff for ex-President Andrés Manuel López Obrador. In response to the allegations, Vector firmly denied any wrongdoing, asserting that it has adhered to strict regulatory standards. They maintain that the transactions flagged by the U.S. were legitimate dealings with legally established entities.

Mexico's Finance Ministry has responded to this international scrutiny by requesting proof from the U.S. Treasury regarding the suspected illicit activities, emphasizing that no evidence has been forthcoming. They added that the wire transfers cited referred to lawful transactions with Chinese companies, which are frequently conducted between Mexican and Chinese businesses. This situation underscores the complexities and sensitivities of cross-border relations as both nations navigate efforts to combat drug trafficking and related financial crimes.