Last Tuesday, a Mexican regulator imposed administrative fines on three financial institutions. The government reiterated that despite U.S. sanctions for alleged money laundering, no conclusive evidence of wrongdoing had been established

Last month, the United States banned certain transactions with CIBanco, Intercam Banco, and Vector Casa de Bolsa, three Mexican banks. The ban comes as part of their fentanyl sanctions. All three institutions have denied the American accusations and the Mexican government has clarified that the US Treasury has not provided evidence supporting its allegations

At the end of June, the banking regulator stepped in to take over the management of the three companies. According to the ministry, the fines, totalling 185 million pesos ($9.8 million), were imposed by the country's banking supervisory authority for “non-compliance with administrative procedures