In operation for over 25 years, Intercam Grupo Financiero is a well‑established Mexican bank that has always marketed itself as “the bank for foreigners” in Mexico. It is the only bank in Mexico that allows people in the country on a tourist visa/ FMM (i.e., without residency) to open an account.
It operates across 69 branches in 28 states, with regional offices in Miami and Puerto Rico.
Add friendly service and English-speaking staff to that mix, and it’s understandable why many expats recommend them. (I, too, have been banking with Intercam for several years with no issues up until this point).
So with that in mind, it came as quite a shock when, in June 2025, Intercam was the subject of money laundering allegations by the US government. While Intercam has vehemently denied the allegations, investigations are currently underway.
Whether these accusations are founded or not, where does that leave you if you bank with Intercam?
Intercam money laundering allegations
The allegations against Intercam are that:
- Intercam executives met with members of the Jalisco New Generation Cartel (CJNG) in 2022 to coordinate illicit schemes
- An estimate of more than $1.9m was moved from shell companies and cash mules to launder money through Intercam.
- Intercam allegedly processed multiple transactions between Mexican companies and companies in China that sell chemicals used for opioid production.
Click here to read the complete original article by Melissa Douglas on Mexico Travel Secrets.
Source: Mexico Travel Secrets
