Fitch Ratings has downgraded the credit ratings of Mexican financial institutions Intercam Banco, CIBanco, and Vector Casa de Bolsa following allegations by the U.S. Department of the Treasury of their involvement in money laundering activities linked to fentanyl trafficking and Mexican drug cartels. The rating agency cited weaknesses in the banks' anti-money laundering controls and placed their ratings under negative watch before further downgrading them to a speculative grade of "CCC." Subsequently, Fitch announced it would cease monitoring the credit ratings of these three institutions. Standard & Poor's also lowered their credit ratings in response to the same allegations. Industry experts have indicated that these downgrades severely impact the future prospects of the affected banks. The actions reflect the financial sector's increased scrutiny amid concerns over illicit financial activities facilitating drug trafficking.