Mexico can now liquidate a bank accused of opioid money laundering

The US Treasury Department has amended an order that previously blocked all money transfers involving CIBanco, a Mexican bank. This change allows the Mexican government to transfer funds necessary to shut down the bank.

The US Treasury had previously labeled CIBanco as a primary concern for money laundering tied to illicit opioid trafficking. This amendment means the Mexican government can now take over and liquidate the bank, which was previously impossible under the strict US sanctions. It shows a coordinated effort between the US and Mexico to address financial crime.