The U.S. Treasury Department slapped sanctions Wednesday on three Mexico-based financial institutions it said were used to launder millions of dollars for cartels, in a move officials say would block certain money transfers between the banks and American banks.
The orders issued on the banks CIBanco and Intercam Banco, as well as brokerage Vector Casa de Bolsa, are part of an ongoing push by U.S. and Mexican authorities under pressure by U.S. President Donald Trump to crackdown on Mexican cartels that traffic fentanyl.
