FinCEN Issues Orders to Counter Illicit Opioid Trafficking – What You Need to Know About Section 2313a!
Have You Heard About Section 2313a?
Section 2313a is a new legal authority created under the FEND Off Fentanyl Act (2024) that gives the U.S. Treasury, specifically FinCEN, the power to take civil action against foreign financial institutions suspected of laundering money tied to illicit opioid trafficking, especially fentanyl.
What Are “Special Measures”?
Under this law, FinCEN can impose six types of special measures, ranging from enhanced recordkeeping to outright bans on transactions. These measures are separate and distinct from section 311 special measures and are designed to protect the U.S. financial system from being used by cartels and traffickers to launder money associated with illicit opioid trafficking.
When Did This Happen?
On June 25, 2025, FinCEN issued its first-ever orders under Section 2313a targeting three Mexico-based financial institutions:
- CIBanco S.A.
- Intercam Banco S.A.
- Vector Casa de Bolsa, S.A. de C.V.
According to FinCEN these institutions were found to be “of primary money laundering concern” for allegedly helping cartels like CJNG, Sinaloa, and Gulf Cartel move money tied to fentanyl trafficking.
Who’s Affected?
Any U.S. financial institution (banks, broker-dealers, money services businesses)
What Specifically Is Prohibited Under This Order?
All U.S. financial institutions are prohibited from transmitting funds to or from these three entities. That includes:
- Wire transfers
- ACH payments
- Crypto transactions
- Any indirect exposure through intermediaries
What Are Necessary Steps to Ensure Compliance with 2313a?
- Cease any and all transmittals of funds from or to CIBanco, Intercam, or Vector as defined by the orders (the orders do not require the blocking or freezing of assets).
- Implement and/or update AML/CFT customer screening tools and transaction monitoring systems capable of identifying and rejecting transactions involving the Designated Entities (don’t forget to update related compliance policies, procedures, risk assessments).
- Train relevant personnel, including those in customer facing operational roles, backoffice processing, compliance, and educate your board of directors on the importance and impact of this order.
- File SARs (Suspicious Activity Reports) if relevant.
What Happens If You Don’t Comply?
Non-compliance can lead to:
- Civil fines up to $1.77 million per violation
- Criminal penalties for willful violations
- Personal liability for directors and employees
The new orders are effective September 4, 2025 and have no expiration date at this time.
Want to learn more? See the link below for the latest FinCEN update and reasoning behind the agency’s decision.
Neovera SV (formerly 10-D Security) is an independent firm specializing in IT security and compliance for financial institutions. We help clients mitigate risk and comply with GLBA requirements, offering tailored services and expertise to strengthen cybersecurity programs.