🚨NEW: One of the Mexican banks sanctioned this week by @USTreasury for allegedly laundering cartel-linked funds has a U.S. subsidiary with a @federalreserve master account — giving it direct access to the U.S. payment system. The U.S. entity received its master account in 2021, around the same time crypto firms like @krakenfx and @custodiabank were facing pushback on getting master accounts from the Fed. @IntercamBanco, in an official statement, denied the allegations and said it has operated in full compliance with AML and CTF principles for nearly 30 years. It’s unclear whether the U.S. affiliate has done business with the sanctioned parent.