Treasury Issues Historic Orders under Powerful New Authority to Counter Fentanyl

Takes First Actions Under FEND Off Fentanyl ActWASHINGTON — 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.CIBanco and Intercam, commercial banks with over $7 and $4 billion in total assets, respectively, and Vector, a brokerage firm managing nearly $11 billion in assets, have collectively played a longstanding and vital role in laundering millions of dollars on