President Claudia Sheinbaum Pardo stated on Wednesday that the U.S. government has not presented evidence regarding the alleged money laundering that the Treasury Department attributed to three Mexican financial institutions: CIBanco, Intercam Banco, and Vector Casa de Bolsa.
During her morning press conference on September 10, the President emphasized that the intervention carried out by Mexican authorities was strictly preventive, aimed at protecting the stability of the national banking system.
Sheinbaum explained that the intervention took place on the very day Washington issued the notification, which helped contain any risk. “There were only some minor issues, but everything is under control,” she noted.
Minister of Finance and Public Credit (SHCP) Édgar Amador noted that as part of the measures adopted, Kapital Bank acquired Intercam Banco’s divisions —except its banking license—, while Grupo Financiero Multiva took over CIBanco’s fiduciary business. Meanwhile, Vector Casa de Bolsa remains under government intervention.
“We are analyzing the options, and they will be determined in accordance with regulations. Everything is proceeding normally; the payment system and the banks are operating without disruption,” Amador said.
The official explained that the actions were undertaken to protect savers and the financial system as a whole, avoiding risks of contagion to other institutions. He also stressed that the entities involved represent less than 1% of the assets of Mexico’s banking system.
Amador reiterated that, so far, no evidence has been presented regarding the alleged money laundering links and highlighted the strength of the national banking system.
“We acted preventively to protect the payment system and to avoid nervousness among savers. Mexico’s banking system has proven its strength and sound performance,” he stated.
With this, the federal government aims to convey confidence and send a message of certainty to both investors and users of the financial system.
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