Visa cancels international operations of CIBanco card

According to CIBanco, the Visa payment network «unilaterally decided» to cut off its platform for all of the lender’s international card transactions, particularly those involving CICash Multicurrency.

He explained that the US Treasury’s announcement last week, in which the department mentioned a purported money laundering case connected to narcotics trafficking, served as the basis for the step.

The proposal was unexpectedly announced yesterday at 8:00 p.m. and ratified today at 12:30 p.m., he said in a news statement.

It specified that Visa’s measure took effect as of 2:00 p.m. this Monday.

It assured its customers that their funds are well protected and that they can be reimbursed through the branch network in the currency of origin “(if the currency is available) or in local currency by the method the customer chooses”.