Managing FinCEN’s new Section 2313a prohibitions
On July 9, 2025, FinCEN issued updated FAQs related to 2313a orders issued on June 25, 2025. Compliance officers should make themselves familiar with 2313a, how they differ from 311 sanctions and how to comply with the specific order just released.
What is Section 2313a?
Section 2313a was added to Title 21 of the U.S. Code when Congress enacted the FEND Off Fentanyl Act. It grants the Secretary of the Treasury authority to require financial institutions to place special measures on entities once reasonable grounds for concluding a primary money laundering concern in connection with illicit opioid trafficking exist within a financial institution operating outside the United States.
Unlike 311, Section 2313a is narrowly focused on illicit opioid-related activity. Due to the urgency of that threat, Section 2313a grants the Treasury expanded powers, including the ability to restrict or prohibit fund transfers and allows action to be taken directly by order.
In the June 25 order, FinCEN found Mexican commercial banks CIBanco and Intercam, as well as Vector, a Mexican-based brokerage firm, played vital roles in laundering money for Mexican-based cartels. In evaluating the risks related to opioid trafficking posed by the institutions, FinCEN considered both regulatory and order-based approaches.
Given the urgency of the threat and the role these institutions play in facilitating illicit opioid-related transactions, FinCEN determined that issuing orders was the most effective course of action.
Their order states that U.S. financial institutions are prohibited from engaging in certain transmittals of funds involving CIBanco, Intercam Banco and Vector Casa de Bolsa. It is important to note that any branches, subsidiaries and offices of the three targets are excluded from the order.
These orders are designed to mitigate imminent risks without imposing undue burdens or new compliance costs on U.S. financial institutions.
FinCEN’s updated FAQs for Section 2313a
On July 9, 2025, FinCEN extended the effective date to September 4, 2025. The new deadline gives financial institutions time to implement appropriate compliance procedures and exercise due diligence to avoid prohibited transactions.
In support, FinCEN has centralized 311, 9714 and 2313a special measures on one web page with links to each action for more details.
Your next steps
As this is the first order resulting from FEND Off Fentanyl Act and Section 2313a, it’s a valuable opportunity to enhance your compliance program to meet the new requirements.
Financial Institutions must update their policies, procedures and processes to address methods of identifying entities on the list at account opening, within their customer base and importantly within funds transmittals which are prohibited.
The key for financial institutions will be to check with their vendors to ensure the 2313a entities are uploaded within their files to be scanned, either separately or combined with other sanction lists. Once the lists are updated, a quick self-validation should be performed to ensure the systems properly protect the institution.
How Wipfli can help
Wipfli’s team includes former industry professionals who understand the compliance challenges you face daily. We apply our experience to help you adapt to regulatory shifts quickly and effectively. And we closely monitor regulatory changes so that we can keep you informed.
Contact us today to learn more about how we can support your compliance efforts.
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