Mexico’s president demands proof after US accuses financial institutions of laundering drug money
Claudia Sheinbaum says that ‘so far, the Treasury Department has not sent any evidence indicating that money laundering has occurred’
Mexican President Claudia Sheinbaum
MEXICO CITY
Mexico’s president said Thursday that the US Treasury Department has failed to provide enough evidence to support its allegations that three Mexican financial institutions are laundering money for drug cartels.
Claudia Sheinbaum made the comments during her morning briefing.
On Wednesday, the Treasury Department imposed restrictions on CIBanco and Intercam, commercial banks with over $7 billion and $4 billion in total assets, respectively, and Vector, a brokerage firm managing nearly $11 billion in assets.
Sheinbaum emphasized that the information provided by the US so far is not enough to support the claims.
"We neither accept nor deny it. If there is evidence...that there is money laundering, we act -- administratively, even criminally. But if there is no evidence, no action can be taken," she said.
She asserted that Mexico's financial system is robust and safeguarded by measures designed to prevent money laundering and other illicit activities. She also said that Mexico is not anyone’s “piñata.”
“If there is evidence, we act. There is no impunity. But if there is no evidence, then we cannot act, as in any crime. So far, the Treasury Department has not sent any evidence indicating that money laundering has occurred,” she added.
During the press conference, Sheinbaum also responded to comments made by US Attorney General Pam Bondi during a hearing Wednesday before the Senate Appropriations Committee on the 2026 budget.
“We will not be intimidated, and we will keep America safe, thanks to the leadership of President (Donald) Trump. Not only from Iran, but from Russia, China and from Mexico. From any foreign adversary, whether they’re trying to kill us physically or by overdosing our children with drugs,” she said, responding to a Senator’s question.
Sheinbaum dismissed the remarks as baseless, saying Bondi was “not well informed,” especially given that Mexico is currently in the process of finalizing a security agreement aimed at curbing drug flows into the US.
"The reality is that there is cooperation -- coordination without subordination -- and we are moving forward. The security strategy in Mexico is working. It has its daily challenges, but it is working," she said.
