CONCANACO SERVYTUR MÉXICO issues this statement with the objective of alerting and guiding the affiliated business sector.
Preventive Alert Regarding Operations with Mexican Financial Entities Sanctioned by the United States Government
Today, the U.S. Department of the Treasury imposed civil and administrative sanctions on three Mexican financial institutions — CIBanco, Intercam Banco, and Vector Casa de Bolsa — for alleged involvement in financing and money laundering schemes linked to the international trafficking of fentanyl.
Therefore, the Confederation of National Chambers of Commerce, Services and Tourism (CONCANACO SERVYTUR MÉXICO) issues this statement to alert and guide its affiliated business sector.
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Risk Activities to Avoid:
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Financial operations involving international transfers without clear commercial justification, especially to destinations in Asia.
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Relationships with clients or companies that operate with chemical inputs without valid sanitary and regulatory permits.
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Indirect participation in the triangulation of resources or services that could be linked to controlled substances or organized crime activities.
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Recommendations to Prevent Legal and Reputational Risks:
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Strengthen internal compliance protocols regarding money laundering prevention (AML/CFT).
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In operations with these financial entities, implement so-called “enhanced or expanded due diligence” for all parties involved.
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Seek specialized legal or financial advice when unusual, suspicious, or concerning operations are detected, especially with new international business partners.
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Remember that some U.S. laws and regulations have extraterritorial effects and application.
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Commitment of the Business Sector:
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CONCANACO calls on its 258 affiliated chambers and more than 2 million represented entrepreneurs to reinforce their compliance policies and act with the highest transparency, ethics, and responsibility. Illicit practices, directly or indirectly, harm the economy, discredit institutions, and undermine the security of our country.
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Collaboration with Authorities:
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Under the leadership of the Confederation’s President, Dr. Octavio de la Torre de Stéffano, and the Vice President and Compliance Officer, Dr. David E. Merino Téllez, we will maintain close coordination with the Ministry of Finance, the National Banking and Securities Commission (CNBV), the Financial Intelligence Unit (UIF), and sectoral chambers to support prevention, education, and reporting of any operation that compromises the integrity of our commercial chains.
CONCANACO SERVYTUR México is an organization that, according to the Law of Business Chambers and their Confederations, represents 5.2 million companies and family businesses in over 1,857 municipalities across the country. With more than 100 years of history legitimizing its existence and participation in Mexico’s economic and social direction, the Confederation, as a public interest institution, has the mission to represent, promote, and firmly defend commerce, services, and tourism in Mexico, supporting initiatives, decrees, regulations, and business position documents aimed at contributing to the country’s growth and development.
Symbiosis focuses its efforts in terms of export promotion, assistance with direct investment, and internationalization of Canadian companies. With deep cultural and business ties with the region and an understanding of the challenges presented to Canadian clients doing business in Mexico. Our team is positioned to timely and efficiently assist clients in providing counsel and the legal tools to assist in their positioning in Mexico. For further information, please contact us or book a call/video conference with a member of our team, it would be our pleasure to meet you and talk about your project.
