Amerikaanse FinCEN-bevel tegen CIBanco zal Mexicaanse fiduciaire markt op zijn kop zetten

In late June 2025, the U.S. Treasury’s FinCEN (Financial Crimes Enforcement Network), under new authorities granted pursuant to the Fentanyl Sanctions Act, the FEND Off Fentanyl Act, and in line with President Trump’s administration enforcement priorities targeting cartels, fentanyl trafficking, and transnational criminal organizations, issued an order designating CIBanco as being of primary money laundering concern in connection with illicit opioid trafficking (the Order).

Beginning September 4, 2025, the Order’s broad spectrum of relevant U.S. financial institutions and U.S.-based branches of foreign financial institutions will be prohibited from transmitting funds with CIBanco, the largest fiduciary service provider in Mexico with a 25% market share (similar orders targeted Intercam Banco with a 1% fiduciary market share, and Vector brokerage firm, the ninth largest brokerage firm in Mexico).

Following the issuance of such Orders, the Mexican Treasury announced the initiation of the splitting process of CIBanco’s and Intercam Banco’s fiduciary businesses to protect the continuous functioning of the trusts that they currently manage; they will be temporarily transmitted to the Mexican Government´s Development Banking System which, in parallel, will develop a process to permanently transmit them to other private financial institutions.

It is widely known that foreign investors in beachfront properties in Mexico—both corporations and individuals—must rely on fiduciary instruments to secure, utilize and benefit from their rights to such property, and a large number of relevant trusts (remember that just CIBanco alone participates with a 25% share of the Mexican fiduciary market) have begun a mandatory splitting process. 

Those hospitality sector players and individuals whose Mexican trust currently has CIBanco or Intercam Banco as trustees, should immediately initiate contacts with the Mexican Government’s Development Banking System to assure a smooth transfer and, most importantly, to avoid any potential adverse consequences to their current and future rights and operations, and in turn, orderly initiate the trust’s transmission to a new Mexican private financial institution. Our Hospitality & Leisure Industry team, along with our Mexico and U.S. legal teams, are readily available to provide additional information and counsel on the execution of the suggestions provided herein.

To access a more in-depth analysis of FinCEN’s orders prepared by Foley’s Government Enforcement Defense & Investigations (GEDI) team, please click here.