Reported about 16 hours ago
Mexico's bank regulator has intervened to temporarily manage three financial institutions following money laundering accusations from US authorities. The decision aims to safeguard customers amid potential implications for these banks. In response, the affected firms, including CIBanco and Intercam, have pledged cooperation. This intervention reflects ongoing concerns about the integrity of Mexico's banking system, particularly as the country deals with a legacy of banking scandals and demands for increased regulatory oversight.
Source: YAHOO