Imposition of Special Measure Prohibiting Certain Transmittals of Funds Involving CIBanco S.A.

FinCEN has issued a Final Rule imposing a special measure prohibiting certain transmittals of funds involving CIBanco S.A., Institución de Banca Multiple, a Mexican banking institution. This amendment restricts US persons and financial institutions from processing designated fund transfers through or involving the named entity due to suspected money laundering concerns.

Financial institutions that engage in international wire transfers, correspondent banking, or other fund transmittal services must immediately identify and halt any pending or future transactions involving CIBanco S.A. under this special measure. Institutions should review their transaction monitoring systems, correspondent banking relationships, and wire transfer records to ensure compliance with this prohibition. Non-compliance may result in civil and criminal penalties under the Bank Secrecy Act.