Visa suspended international transactions with cards issued by CIBanco after the United States Treasury Department accused the Mexican institution of facilitating money laundering operations. The decision, implemented as of Sunday, June 30, particularly affected users of the CICash Multicurrency product.
The Treasury Department identified CIBanco, along with Intercam and Vector, as institutions linked to financial networks used by criminal groups. Despite the seriousness of the accusation, the Mexican government’s initial reaction was to minimize the impact. In the words of President Claudia Sheinbaum, more information was requested from the United States before issuing a firm position.
However, days later, and following Visa’s unilateral disconnection, the need to align positions intensified. In this context, Mexican financial authorities initiated an administrative intervention at CIBanco. The entity itself informed its customers that “their funds are safe and may be reimbursed” in foreign or local currency, depending on availability and the chosen method.
For its part, CIBanco clarified that Visa announced the suspension suddenly on the evening of Sunday, June 29, 2025, and ratified it the following day. It stated that “it was a decision beyond CIBanco’s control” and “violates the 21-day period indicated in the aforementioned Treasury Department statement.”
In parallel, CIBanco’s operations continue normally within the country. Cards can be used within the country, and payment obligations must remain current. The institution also maintains its connection to the Bank of Mexico’s Interbank Electronic Payment System (SPEI).
This pattern of institutional response—from the initial request for information to the call for structural cooperation—has no precedent. Previous cases of sanctions by US agencies have resulted in legal proceedings, arrest warrants, or extraditions, after initial phases marked by denial or discursive reservations.
Source: nayaritnoticias
