FinCEN Extends Effective Date of Orders Issued under the Fentanyl Sanctions Act

FinCEN extended the effective dates for recent orders under the Fentanyl Sanctions Act. The orders prohibit three Mexico-based financial institutions from engaging in "any transmittal of funds." The extension is from June 25, 2025 until September 4, 2025.

FinCEN designated the three banks as financial institutions of "primary money laundering concern" for facilitating transactions tied to the trafficking of synthetic opioids, including fentanyl. (See previous coverage.)

According to a FinCEN release, the extension "reflects that the Government of Mexico has taken further steps to address the concerns raised in FinCEN's orders, including by assuming temporary management of the affected institutions to promote regulatory compliance and the prevention of illicit finance."