Is your money at risk? A guide to understanding the banking crisis

The US indictment against CIBanco, Intercam, and Vector has sown panic. Should you withdraw your money? Will it affect other banks? Will the dollar rise? We answer the key questions that keep you awake at night so you can make informed decisions.

The news hit like a bombshell: the United States government accused three Mexican financial institutions—CIBanco, Intercam, and Vector Casa de Bolsa—of laundering money for drug trafficking. ⁹ The immediate reaction of many was alarm and confusion. In an environment of high volatility, where the dollar exchange rate is already showing signs of nervousness, trading around 18.90 pesos ²⁵ , it is crucial to understand what is happening and how it directly affects you.

Here's a clear, straightforward guide to navigating this crisis.

The U.S. Treasury Department, through its Financial Crimes Enforcement Network (FinCEN), claims that these three institutions played a "vital and long-standing role" in laundering millions of dollars for cartels like the Sinaloa Cartel and the CJNG. ⁹ Specifically, it accuses them of facilitating payments to companies in China to purchase chemical precursors for the manufacture of fentanyl. ⁹ This action falls under the FEND Off Fentanyl Act, a powerful U.S. national security law. ¹⁰

Both the Mexican government and the banks deny the allegations. The Ministry of Finance (SHCP) claims that the US has not presented conclusive evidence and that its own reviews only detected minor administrative violations, which have already been sanctioned. ¹² The banks, for their part, have categorically rejected the allegations, asserting that they comply with the law. ¹¹ The inclusion of Vector, founded by the influential businessman Alfonso Romo, who is close to political power, adds an element of intrigue that suggests the US's motivations may not be purely financial. ⁷

To better understand the conflict, here is a summary of the positions:

Table 1: Accusations vs. Defense: The Money Laundering Clash

| Actor | Accusation / Key Position | Evidence Presented / Requested |

| :— | :— | :— |

| Department of the Treasury (USA) | CIBanco, Intercam, and Vector laundered millions of dollars for cartels (Sinaloa, CJNG) to purchase fentanyl precursors.9 | Public reporting and enforcement of the FEND Off Fentanyl Act.10 | Prohibition of transfers with the US financial system.11 |

| Ministry of Finance (Mexico) | No "evidentiary data" has been received.12 Internal investigations only revealed administrative violations that had already been sanctioned.13 | Requests conclusive evidence from the US. Claims that transfers to China are part of legal and massive trade.12 |

| Sanctioned Institutions | They categorically reject the accusations. They claim to operate legally and transparently and are willing to cooperate.11 | They argue that the reported operations are ordinary transactions with legally constituted companies.14 |

A simple chart explaining what IPAB deposit insurance is and how it protects Mexicans' savings up to 400,000 UDIS.

This is the most important question for any saver. The answer is nuanced:

● At the banks mentioned above (CIBanco, Intercam, Vector): The main risk isn't that the bank will "steal" your money, but rather a liquidity risk. If the accusation triggers panic and many customers withdraw their funds at the same time (a bank run), the institution could have trouble paying everyone, not because it's insolvent, but because it doesn't have enough cash immediately available. ¹¹ This is the most extreme scenario.

● In other banks: The risk is contagion. If one of the banks mentioned faces a severe crisis, it could generate distrust in the soundness of the entire Mexican financial system, even if the other banks are healthy.

Important: In Mexico, your bank savings are protected by the Institute for the Protection of Bank Savings (IPAB). This deposit insurance covers your savings up to 400,000 UDIS (Investment Units), equivalent to approximately 3.4 million pesos (as of June 2025). This protection applies per person and per bank. This means that, even in the extreme case of a bank failure, the government guarantees the return of your savings up to that amount.

1. Stay calm: Making financial decisions based on panic is rarely a good idea. The situation is serious at the institutional level, but IPAB insurance offers a robust safety net for the vast majority of savers.

2. Get information from reliable sources: Don't be misled by rumors. Follow official communications from the SHCP (Ministry of Finance), the Bank of Mexico, and the CNBV (National Commission for the Promotion of Public Finance).

3. Diversify (if you have more than the IPAB limit): If your savings in a single bank exceed the equivalent of 400,000 UDIS, a prudent strategy is always to diversify, that is, spread your money across different banking institutions so that each account is covered by insurance.

4. Evaluate your exposure: If you have investments or businesses that depend on international transfers in dollars through the aforementioned institutions, contact your executive to understand the potential impacts and seek alternatives.

This crisis is a reminder that the financial world is complex and interconnected with geopolitics. The best defense is always information.

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