Mexico City Financial Institutions Transfer
Mexico will temporarily transfer the trust-handling businesses of two financial institutions sanctioned by the U.S. for alleged money laundering involvement, according to the finance ministry’s statement on Friday.
Mexican development banks will take over the trust units of CIBanco and Intercam Banco while the ministry seeks a permanent solution to transfer them to private institutions.
This transfer ensures that “the trusts continue operating uninterrupted, for the benefit of their settlors, beneficiaries, and third parties involved,” the ministry stated.
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09:15 - 05/07/2025
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