The recent allegations from the U.S. Treasury Department against three Mexican financial companies may further escalate tensions between the U.S. and Mexico as both nations grapple with the ongoing fentanyl crisis.
U.S. Accuses Mexican Firms of Money Laundering Linked to Fentanyl Trade
U.S. Accuses Mexican Firms of Money Laundering Linked to Fentanyl Trade
U.S. Treasury claims connections between Mexican financial firms and drug cartels amidst heightened opioid-related enforcement.
In a significant move on June 25, 2025, the U.S. Treasury Department accused three financial firms in Mexico of laundering substantial amounts of money linked to fentanyl trafficking associated with drug cartels. The firms named — Vector Casa de Bolsa, Intercam Banco, and CIBanco — could face restrictions on funds as the U.S. intensifies its crackdown on the illicit opioid trade under the Trump administration.
The accusations have raised eyebrows in Mexico, particularly regarding Vector, a prominent brokerage controlled by Alfonso Romo, who previously served as chief of staff for former President Andrés Manuel López Obrador. While the U.S. Treasury alleges connections between these companies and drug cartels, Vector has firmly denied any wrongdoing, asserting their operations adhere to stringent regulatory compliance and that the transactions scrutinized relate to ordinary business dealings with legitimate firms.
In an immediate response, Mexico's Finance Ministry called for evidence to substantiate the claims but noted that no such proof was provided, emphasizing that the wire transfers in question were legitimate transactions involving lawful companies in China. The ministry pointed out that such transactions occur frequently between Mexican and Chinese entities.
This development underscores the complexity of the relationship between the U.S. and Mexico concerning ongoing fentanyl trafficking issues. President Claudia Sheinbaum has attempted to maintain a working relationship with the Trump administration by enhancing efforts to seize fentanyl and transferring cartel members to U.S. custody. However, these new allegations could complicate those diplomatic efforts further, prompting a closer examination of the connections between financial institutions and organized crime in both nations.
The accusations have raised eyebrows in Mexico, particularly regarding Vector, a prominent brokerage controlled by Alfonso Romo, who previously served as chief of staff for former President Andrés Manuel López Obrador. While the U.S. Treasury alleges connections between these companies and drug cartels, Vector has firmly denied any wrongdoing, asserting their operations adhere to stringent regulatory compliance and that the transactions scrutinized relate to ordinary business dealings with legitimate firms.
In an immediate response, Mexico's Finance Ministry called for evidence to substantiate the claims but noted that no such proof was provided, emphasizing that the wire transfers in question were legitimate transactions involving lawful companies in China. The ministry pointed out that such transactions occur frequently between Mexican and Chinese entities.
This development underscores the complexity of the relationship between the U.S. and Mexico concerning ongoing fentanyl trafficking issues. President Claudia Sheinbaum has attempted to maintain a working relationship with the Trump administration by enhancing efforts to seize fentanyl and transferring cartel members to U.S. custody. However, these new allegations could complicate those diplomatic efforts further, prompting a closer examination of the connections between financial institutions and organized crime in both nations.
