Reported by RIVIERA MAYA NEWS

(Excerpt shared below. To read full report, go to: https://riviera-maya-news.com/national-banking-securities-revokes-license-and-starts-cibanco-liquidation/2025.html?cn-reloaded=1)

Financial regulator National Banking and Securities Commission (CNBV) has revoked CIBanco’s license. The revocation means authorities have started the bank’s liquidation process.

The Institute for the Protection of Bank Savings (IPAB) reported that as a result of the revocation, its Board of Governors approved proceeding with the payment of deposits.

CIBanco (Institución de Banca Múltiple) was one of three Mexican financial institutions accused of money laundering linked to fentanyl trafficking in June of this year. Intercam Banco, a second bank accused of money laundering, was acquired by Kapital Bank, while brokerage firm Vector, also accused of money laundering, transferred its client portfolio and assets to join Finamex.

The revocation of CIBanco’s license comes just days before the expiration of the extension granted by the U.S. Treasury Department to isolate CIBanco, Intercam and the brokerage firm Vector from the financial system, a measure that will take effect on October 20.