Treasury bans transactions over alleged money laundering, explaining millions of dollars in illicit payments aided the transmission of the drug from China to Mexico
By Hudson Crozier, Daily Caller News Foundation
The Trump administration announced sanctions on Wednesday against Mexican banks that it says are fueling the illegal trade of fentanyl flowing into the U.S.
The Treasury Department issued orders banning financial transactions with the banks over alleged money laundering at the behest of Mexican cartels. The department said millions of dollars in illicit payments aided the transmission of fentanyl from China to Mexico, where criminals frequently traffic deadly opioids across the southern U.S. border.
“Financial facilitators like CIBanco, Intercam, and Vector are enabling the poisoning of countless Americans by moving money on behalf of cartels, making them vital cogs in the fentanyl supply chain,” Treasury Secretary Scott Bessent said about the three institutions.