BajaNomad

Intercam,Cibanco =done

chippy - 6-26-2025 at 06:38 AM

For those of us that have accts.:no:

https://www.reuters.com/business/finance/us-prohibits-certai...





[Edited on 6-26-2025 by chippy]

Tioloco - 6-26-2025 at 07:18 AM

Hopefully Sheinbaum will start doing something meaningful about the cartel grip on Mexico. If not, this will only get worse as it slides into a full narco state.

chippy - 6-26-2025 at 07:26 AM

Quote: Originally posted by Tioloco  
Hopefully Sheinbaum will start doing something meaningful about the cartel grip on Mexico. If not, this will only get worse as it slides into a full narco state.


I don't see that happening. The narcos seem to run the Morena party ever since AMLO and his "hugs not bullets" policy.

Tioloco - 6-26-2025 at 07:35 AM

chippy- I agree with you but I am sure not happy about it. Things have definitely changed for the worse in recent years and it is very telling when it is affecting the banking sector.

"Hugs not Bullets" is like having a cigarette in hopes of curing lung cancer.

surabi - 6-26-2025 at 09:44 AM

Leave it to the MAGAs to instantly turn an information post about a banking restriction into a venue for their politics.

PaulW - 6-26-2025 at 09:53 AM

Here a concise writeup on the announcement

Important Financial Alert for Americans in Mexico 🇲🇽🇺🇸

The U.S. Treasury has just sanctioned Intercam Banco, along with CIBanco and Vector Casa de Bolsa, under new fentanyl-related laws. These banks were designated as “primary money laundering concerns” due to alleged links to drug trafficking and fentanyl precursor purchases.

What this means:

• U.S. financial institutions will soon block transactions involving these banks (effective mid-July 2025).

• If you use Intercam, CIBanco, or Vector for banking, investing, or currency exchange, you should review your accounts and consider switching institutions.

Mexico’s government is investigating but has not confirmed wrongdoing. However, U.S. sanctions carry serious consequences—especially for expats who rely on U.S.-linked banking.

Recommendation: Stay informed and consider moving your funds if affected. Use banks with strong compliance records to avoid disruptions.

Edit: These 3 financial institutions are owned by ex president Lopez Obrador Chief of Staff, Alfonso Romo.

JDCanuck - 6-27-2025 at 12:06 AM

Troubling for those that have recently opened Intercam accounts and still have considerable amounts deposited there. Might be worth a fast trip down to withdraw excess deposits in person. Especially troubling if you were in the middle of building and funds may be stranded.

SFandH - 6-27-2025 at 04:51 AM

Mexican government takes control of two Mexican banks facing US sanctions

"The National Banking and Securities Commission (CNBV) has decreed a “temporary managerial intervention” at the Mexican banks CIBanco and Intercam after both were accused by the U.S. Department of the Treasury of laundering money for Mexican drug cartels.

The CNBV, the Finance Ministry (SHCP), the Bank of Mexico (Banxico) and the Institute for the Protection of Bank Savings (IPAB) said in a joint statement on Thursday that the CNBV governing board decreed the intervention, explaining that it “has the objective of replacing” the two banks’ “administrative bodies and their legal representatives for the purpose of safeguarding the rights of savers and clients of these institutions.”

https://mexiconewsdaily.com/business/mexican-government-cont...

ligui - 6-27-2025 at 07:01 AM

I love it the trump administration has given no factual evidence of these banks of money laundering :no:

I bank with InterCam and have been impressed with the requirements for opening a corporate account. They even required a photo of my residence in the United States and multiple copies of passports and bills connected to my residence.
Took two months to set up that account.

Looks like a press release for the administration to move attention away from it's own problems of trying to govern.

Say goodbye healthcare in this country

mtgoat666 - 6-27-2025 at 07:27 AM

Quote: Originally posted by ligui  
I love it the trump administration has given no factual evidence of these banks of money laundering :no:


No govt should be allowed to unilaterally ban, restrict or interfere with a business without due process in courts. The usa was once known for creating a fair and stable business climate. No longer…


[Edited on 6-27-2025 by mtgoat666]

ligui - 6-27-2025 at 12:37 PM

Inter cam has followed all international banking laws but yet maybe just didn't bow down far enough.

So sad what is happening.

:Now we have cut off trade talks with one of our closest allies. CANADA.

:?: explain that to me

will sure help lower inflation :P:barf:

Tioloco - 6-27-2025 at 01:34 PM

Quote: Originally posted by ligui  


:Now we have cut off trade talks with one of our closest allies. CANADA.

:?: explain that to me

will sure help lower inflation :P:barf:


Canada imposed a Digital Services Tax. Trump responded as would be expected.

ligui - 6-27-2025 at 02:36 PM

Digital taxes are in place all over the world nothing new.

How you like the 60 percent tax on imported steel that's going not raise prices.

I'm looking forward working in a factory making shoes . How about you guys ?

:bounce:

ligui - 6-27-2025 at 02:42 PM

Oh buy the way the UK was able to make a trade deal with the US and not a mention of the digital tax they impose on US firms.

Switch and Bait.

SFandH - 6-28-2025 at 11:31 AM

For those interested in details, see the link below.

Treasury Issues Unprecedented Orders under Powerful New Authority to Counter Fentanyl

Immediate Release

June 25, 2025

Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued orders identifying three Mexico-based financial institutions—CIBanco S.A., Institution de Banca Multiple (CIBanco), Intercam Banco S.A., Institución de Banca Multiple (Intercam), and Vector Casa de Bolsa, S.A. de C.V. (Vector)—as being of primary money laundering concern in connection with illicit opioid trafficking, and prohibit, respectively, certain transmittals of funds involving CIBanco, Intercam, and Vector. These orders are the first actions by FinCEN pursuant to the Fentanyl Sanctions Act and the FEND Off Fentanyl Act, which provide Treasury with additional authorities to target money laundering associated with the trafficking of fentanyl and other synthetic opioids, including by cartels. This prohibition becomes effective 21 days following publication in the Federal Register.

https://www.fincen.gov/news/news-releases/treasury-issues-un...


ligui - 7-6-2025 at 08:15 AM

Went onto InterCam bank on Thursday and was only able to withdraw 20'000 pesos from my account.

Was told I would have to return the next day to withdraw more

Will go to the bank on Monday and meeting with the bank manager on see what restrictions are in place.

I'll post what information I get

Ligui. Ps its pretty hot down here :fire: