US Treasury

Mexico Fined Financial Firms Targeted by US Over Drug Claims

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[ad_1] Mexican regulators imposed 185 million pesos in fines last month on three firms that were targeted by the US Treasury for potentially aiding drug traffickers, according to government data. Intercam Banco SA and its brokerage were fined 92 million Mexican pesos for violations of anti-money laundering rules such as failing to have an automated … Read more

Mexican Firms Targeted by US for Laundering Get Reprieve

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[ad_1] The US Treasury is granting a 45-day reprieve to three Mexican financial firms it moved to cut off from the US financial system, citing progress by the country’s government in addressing money laundering by drug trafficking cartels. The Treasury department’s ban on fund transfers with the designated firms will now take effect on Sept. … Read more