Mexican Bank Cartel Money Laundering: Access to US Payment System Sparks Controversy

27 June, 2025, 12:30 PM

The revelation that Intercam Banco, a Mexican bank facing U.S. Treasury sanctions for alleged cartel money laundering, had direct access to the U.S. payment system has ignited controversy. Eleanor Terrett, host of Crypto in America, reported that the bank's U.S. subsidiary possessed a master account with the Federal Reserve (Fed). This account granted Intercam Banco direct access to the U.S. payment infrastructure. The implications of this access, given the money laundering allegations, are significant. While Intercam Banco has vehemently denied any wrongdoing in an official statement, questions remain about the relationship between the U.S. subsidiary and its parent company. Specifically, investigations are ongoing to determine if the subsidiary engaged in business dealings with Intercam Banco, potentially facilitating the movement of illicit funds. This situation highlights the ongoing challenges in preventing financial institutions from being exploited for money laundering purposes. Further scrutiny of international banking regulations and oversight is anticipated. ```