Mexico Challenges US Sanctions Over Money Laundering Allegations

Mexican President Claudia Sheinbaum sharply criticized US sanctions on Mexican banks over alleged money laundering, citing lack of evidence. The US Treasury claims the banks facilitated transfers for drug cartels. Mexico conducted its own investigation, finding administrative infractions but no major evidence supporting US claims.

Mexican President Claudia Sheinbaum responded with strong criticism against US government sanctions on three Mexican financial institutions for alleged money laundering, demanding evidence to support the claims.

The US Treasury Department imposed sanctions, accusing CIBanco, Intercam Banco, and Vector Casa de Bolsa of facilitating transfers for Mexican drug cartels. However, Sheinbaum insisted that the US has not demonstrated proof of such allegations.

These banks fired back at the accusations, categorically rejecting them and pointing to an absence of evidence. Meanwhile, Mexican officials conducted their own investigation, uncovering only administrative infractions without enough for the serious charges brought by the US.

(With inputs from agencies.)