The U.S. Treasury Department has imposed sanctions on 27 individuals associated with the Hysa Organized Crime Group, which is connected to money laundering activities in Mexico. This action highlights the ongoing efforts to dismantle financial networks that facilitate cartel operations.
The sanctions specifically target several gambling establishments in Mexico, with ten casinos now facing proposed restrictions under the Financial Crimes Enforcement Network (FinCEN) regulations. These measures are designed to disrupt the flow of illicit cash and cryptocurrency linked to organized crime.
The Treasury”s Office of Foreign Assets Control (OFAC) has identified the Hysa Organized Crime Group as a prominent transnational criminal organization. Key figures within the group include Luftar, Arben, Ramiz, Fatos, and Fabjon Hysa, whose operations extend beyond Mexico into Canada and Europe.
Arben Hysa”s company, Entretenimiento Palmero S.A. de C.V., has been singled out as a critical player in their money laundering scheme. Additionally, Gilberto Lopez Lopez and Eselda Baku, Ramiz Hysa”s daughter, are notable figures within the organization. Other affected entities include Bliri S.A. de C.V. and Cucina Del Porto S.A. de C.V., further illustrating the extensive scope of these operations.
The U.S. Treasury has emphasized the importance of these sanctions in blocking any U.S.-based assets associated with the designated individuals and entities. Under OFAC regulations, U.S. persons are barred from conducting transactions with those who have been blocked, with violations potentially leading to severe civil or criminal repercussions. Secondary sanctions could also target foreign financial institutions that engage with these sanctioned individuals.
In a related effort, FinCEN has proposed a special measure under section 311 of the USA PATRIOT Act, identifying ten Mexican casinos as high-risk for money laundering activities. This group includes well-known venues such as Emine and Casino Mirage, among others located across Sinaloa and Sonora.
Financial institutions will be required to exercise enhanced due diligence when dealing with these gambling operations to mitigate risks associated with money laundering. This initiative represents a collaborative effort between U.S. and Mexican authorities to tackle the financial underpinnings of drug cartels.
As the situation unfolds, these actions are crucial not only for curbing cartel funding but also for safeguarding the integrity of financial systems, including those involving cryptocurrencies. By addressing both individual and corporate entities, regulators aim to effectively sever the pathways of illicit funding.
