Mexico’s government is rushing to the aid of two Mexican-based banks and a brokerage firm that the U.S. Department of the Treasury accused of working with various cartels to launder money or helping them move money to China to pay for fentanyl precursors. Mexican officials questioned the validity of the Treasury Department’s sanctions, stating that the claims lack sufficient evidence to support the allegations.
In a prepared statement issued this week, Mexico’s Secretariat of Treasury and Public Credit (SHCP) claimed that as soon as the U.S. Treasury notified them of the actions against the three Mexican financial institutions, they requested proof of such actions. Mexican officials claimed in their statement that they had found no evidence of criminal action by the financial institutions, despite allegations brought forth by U.S. authorities.
SHCP claimed that the information provided by the U.S. Treasury only dealt with a few transfers between the Mexican institutions and “legally constituted Chinese companies.” Mexican officials claimed that the transfers were no different than thousands of others done between other Mexican financial institutions and China through legitimate commerce.
SHCP claimed that a review by Mexico’s National Banking and Securities Commission (CNBV) only revealed administrative faults, with no evidence of criminal behavior on the part of the three institutions. CNBV officials claimed that to date, they have no real proof of criminal behavior. (Read More)
