Mexican Bankers Put on Brave Face in Wake of US Laundering Blitz

Every month, Mexico’s bankers are gathered in a spiral shelter in the colonial center of the capital to eat together and meet senior officials.

The meeting of July was someone to remember. The country has been shaken by one of the worst banking scandals, the US uses an unprecedented order that accuses three well -known but accusing small companies that facilitate drug smuggling potentially.

Nevertheless, the crushing flower soup of the bankers, the beef fountain and the tiramisu lunch was talking after lunch, the mood among the best lenders of the country was a challenging-simplum. The event was full of 140 financiers with a few dozens of more than normal.

Bank of America’s Mexico Chief Emilio Romano took over as the new president of Asocacion de Bancos de Mexico in May, and trusted journalists gathered after the meal that Donald Trump will slow down under the global influence of the trade war. Authorized, the country is flexible and the loan flows, he said. Bankers, President Claudia Sheinbaum’un small enterprises to provide more credit and Mexican -made goods with support for importing plans, he added.

In the meantime, the allegations of money laundering money just – unproven allegations, he said. The suspicious operations emphasized by the US are a “normal ve part of doing business as banks, Romano argued that Mexico has the most powerful money laundering arrangements in the world and emphasized that the banking system works as a whole.

“It is time for the Mexicans to get a chance in Mexico and the banks are ready for this difficulty,” he said. “We have been preparing Mexico more than ever – we have been preparing for tens of years – so we have been preparing for foreigners, so that people say abroad, how the issues are solved abroad.”

On Wednesday, the Ministry of Treasury’s financial crimes preservation network, until September 4 last month on the last month Cibanco SA, Intercam Banco SA and intermediary vector Casa de Bolsa SA postponed the orders forbidding transfers. Fincen’s order pointed out the first use of strong new measures from the Fend Off Fentanyl Law last year. This week, Fitch Ratings warned US appointments to potential financial transmission. However, Sheinbaum said that Mexico’s rapid movement aims to prevent such panic in order to take over the management of companies.

The banks, which are currently targeted by the USA, were caused by the debris of the country’s foreign exchange houses after investigations accusing HSBC Holdings PLC to allow traffic to allow traffic to wash approximately $ 881 million from 2006 to 2009. Among the survivors at that time, Cibanco and the government forced the government to become a bank, Intercamal, more tighter money laundering arrangements were subject to consultants.

Together with the intermediary vector, Cibanco and Intacam became big players in the country’s FX market in the next decade. Customers will have to find new dealers in the coming months – but they will face the increasing examination from the banks that are frightened by the names of the designated companies. The three companies rejected the charges and Sheinbaum said the United States did not proof of money laundering for cartels.

Romano praised the 45 -day extension given by the Treasury as a sign of a solid cooperation between the US and Mexico. He said that the movement would give companies the time they need to cope with private capital and real estate trusts in the US ban. And he stressed that the US officials said that there were no Mexican banks, which are part of the current investigation to the Banking Association at a recent meeting.

Nevertheless, many of them are concerned that Mexico can still dance with the Trump administration.

“This extension shows that the United States wants to bore Mexico without flying local financial stability on one night, Har “Most funds follow how quickly Mexico can rebuild the confidence, because after a reputation is scorched, capital will progress quickly – especially in these markets.”

This article was created from an automatic news agency feeding without changing the text.