The Trump administration announced sanctions on Mexican banks on Wednesday, saying it is promoting illegal trade in which fentanyl flows into the US.

Ministry of Finance issued An order banning financial transactions with banks on suspicion of money laundering at the request of the Mexican cartel. The agency said illegal payments of millions of dollars helped send fentanyl from China to Mexico. (Related: Feds “Tracing Money” Behind LA RIOTS in Extended Probes)

The cartel used Mexico-based financial institutions to move money and enable a vicious fentanyl supply chain that poisoned countless Americans.

By first using the new and powerful authorities granted by Congress, the Ministry of Finance effectively demands finances from us…

– Treasury Secretary Scott Bescent (@secscottbessent) June 25th, 2025

“Financial facilitators such as Cibanco, Intercam and Vector will enable countless American addictions by moving money on behalf of the cartel, making them an important cog in the fentanyl supply chain,” Treasury Secretary Scott Bessent said of the three agencies.

The bank said, “It served as a vehicle for people who “wash millions of dollars on behalf of a Mexico-based cartel and promoted payments for the procurement of precursor chemicals needed to produce fentanyl. Their actions include the processing of payments from Mexico based in China, which will ship the chemicals to the US’s southern neighbors, the agency said.

Tens of thousands of fentanyl overdose deaths occur every year. Federal data show. According to the Department of Homeland Security (DHS), authorities seized enough fentanyl at the tropical border to kill 14 billion people under the Biden administration’s loose border policy. Fentanyl traffic on the southern border was cut in half by March after President Donald Trump strengthened immigration enforcement.

Ministry of Finance Movement I got praise From Tim Scott, Republican Senate Banking Committee Chairman in South Carolina Bipartisan Fentanyl Trafficking Law The first time the Trump administration was summoned.

“Treasury’s actions today — thanks to the authorities provided by our bill — are another demonstration of President Trump’s commitment to keeping our communities safe,” Scott said.

Cibanco, Intercam, and Vector did not respond to requests for comment.

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