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Mexico earthquake victims cheated out of disaster relief money by bank

Mexico City, Mexico — After the devastating September 2017 earthquakes in Mexico City, the federal government announced it would support the reconstruction of affected homes with resources from the Natural Disasters Fund (Fonden).

The resources were to be delivered by Bansefi, Bank of National Savings and Financial Services, through a plastic card program (that acts like cash) and electronic transfers. Those effected by the earthquakes would be given money though these two methods in varying stages to help rebuild their homes.

However, an investigation by the National Banking and Securities Commission (CNBV) found that Bansefi issued cards in the names of five people multiple times. One person was given 34 cards. The other names were repeated 26, 18, 16 and 14 times.

One of the victims, Reynaldo Molina Espinoza, was approved by the federal program to receive a total of 510,000 peso for the repair of his property through the cards however, he has been issued one card with a value of 15,000 peso.

According to Economy Today, the card program for victims of the earthquakes issued by the Bank of National Savings and Financial Services (Bansefi) presents several irregularities among which are the creation of more than 3,000 illegal cards as well as several million missing peso.

According to a report for the National Banking and Securities Commission, the government program presents many inconsistencies, one of which is the intended beneficiaries not receiving any, or only a small portion, of the earthquake relief money they were supposed to receive.