CIBanco to Liquidate Amid U.S. Treasury Allegations of Criminal Ties

CIBanco is set to be liquidated following allegations from the United States Department of the Treasury regarding its connections to organized crime in Mexico, raising concerns about money laundering.

• The Instituto para la Protección al Ahorro Bancario confirmed the liquidation of CIBanco, prompted by serious allegations of criminal ties to organized crime from the United States Department of the Treasury.
• CIBancos closure will affect its customers, who are advised on their options as part of the liquidation process overseen by the Comisión Nacional Bancaria y de Valores.
• The decision to liquidate CIBanco highlights ongoing issues in the financial sector, particularly around money laundering and its implications for banking regulations in Mexico.