International drug money laundering network uncovered. Three Mexican banks implicated
CIBanco, Intercam Banco, and Vector Casa de Bolsa assisted Mexican drug cartels, which the US has equated with international terrorist organizations
27.06.2025
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2 min
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Law enforcers uncovered yet another scheme that allowed drug cartels to legalize illicit proceeds using cryptocurrency. GetBlock AML Research publishes details of the investigation.
On June 25, the US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) imposed sanctions against three Mexican banks (CIBanco, Intercam Banco, and Vector Casa de Bolsa). The organizations helped drug cartels launder funds derived from the sale of narcotic substances.
According to FinCEN, CIBanco, Intercam Banco, and Vector Casa de Bolsa helped the major international drug cartels CJNG, Gulf Cartel, Beltran-Leyva Organization, and Sinaloa Cartel hide criminal proceeds. The financial organizations also facilitated cash flows to Chinese suppliers of precursors used in the production of fentanyl.
Fentanyl is a narcotic opioid analgesic that was developed in the 1960s. It is used in medicine as a strong anesthetic.
Financial structure
Drug cartels have recently significantly increased their use of stablecoins in their operations. To remain undetected, they employ complex schemes involving asset splits, cross-chain exchanges, extensive drop networks, and trading platforms that lack AML and KYC procedures. The laundered funds were transferred to Mexican banks for further use in circulation.
A scheme to launder drug trafficking proceeds through Mexican banks. Data: TRM Labs
Once the illicit proceeds were legalized, the cartels used them to purchase reagents in Wuhan, China.
In early 2025, the administration of US President Donald Trump instructed law enforcement agencies to equate Mexican drug cartels with international terrorist organizations and to step up counteraction against them.
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