Mexico Slams U.S. Money-Laundering Charges Against Banks

President Trump’s vow to “wage war” on drug cartels has resulted in bombshell accusations of money laundering against three Mexican financial institutions — allegations that sparked a defiant pushback from Mexican President Claudia Sheinbaum, Patrick J. McDonnell reported for the Los Angeles Times.

Mexican President Claudia Sheinbaum made her displeasure with the Treasury’s punitive actions clear.

“There’s no proof, just words,” a clearly agitated Sheinbaum told reporters on Thursday. “There has to be proof to know if there was money laundering or not. Therefore, we don’t deny it or accept it.”

A day earlier, the U.S. Department of the Treasury issued what it called “historic” sanctions against CiBanco, Intercam Banco, and Vector Casa de Bolsa.

The department accused all three of laundering millions of dollars in narco-cash to facilitate the trafficking of fentanyl and other synthetic opioids into the U.S.

Sheinbaum has been widely praised for her non-confrontational, “cool-headed” approach with the Trump administration despite numerous disagreements — including Trump’s imposition of 25% tariffs on some Mexican imports, a levy meant to prompt Mexico to crack down further on fentanyl smuggling.

But she made her displeasure with Treasury’s punitive actions clear. “We aren’t anyone’s piñata,” Sheinbaum said. “We coordinate, collaborate — we have said this many times — but we will not subordinate ourselves.”

Some analysts called the Treasury’s moves a broadside against Mexico’s economic well-being.

While U.S. authorities have frequently sanctioned Mexican companies and individuals for alleged ties to drug smuggling, experts note that targeting banks is far less common.