Mexico Fined Financial Firms Targeted by US Over Drug Claims
Intercam Banco SA and its brokerage were fined 92 million Mexican pesos for violations of anti-money laundering rules such as failing to have an automated registry of unusual activity or follow its own guidelines on high risk clients, according to newly released data in regulator CNBV's database of fines. CIBanco SA and its brokerage were fined nearly 67 million pesos, also under anti-money laundering rules, for failing to maintain records and processing inordinate amounts of US dollars in cash.
Brokerage Vector Casa de Bolsa SA was not called out for breaking anti-money laundering rules, but was fined almost 27 million pesos for faults including failing to notify clients of changes in its fund information.
Last month, the US Treasury department's Financial Crimes Enforcement Network slapped orders on the same firms that will prohibit transfers with them, using new powers for the first time from last year's FEND Off Fentanyl Act. The bulk of Intercam's fines were imposed on the same day as the US action while most of CIBanco's and Vector's were levied on June 26, one day later, suggesting coordination between the countries' authorities.
After the US orders were published, President Claudia Sheinbaum said the US had not provided proof of money laundering to justify such a drastic move.
Last week, the US extended the deadline to cut off the firms to Sept. 4, citing Mexico's cooperation and quick move to take over management of the banks.
With assistance from Jose Orozco.
This article was generated from an automated news agency feed without modifications to text.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Hindustan Times
2 hours ago
- Hindustan Times
White House taps mining expert to head national security office, sources say
* White House taps mining expert to head national security office, sources say White House taps mining executive for top NSC role, sources say * Copley expected to focus on supply chains, critical minerals * Trump administration sees rare earths access as key to national security By Jarrett Renshaw and Gram Slattery WASHINGTON, - The White House has tapped a former mining executive to head an office at the National Security Council focused on strengthening supply chains, three sources said, as a pared-down NSC zeroes in on a few of President Donald Trump's most oft-stated priorities. David Copley, who was chosen earlier in the year to serve as the top mining official at the U.S. National Energy Dominance Council, or NEDC, an interagency body chaired by the interior secretary, is now a senior director at the NSC, said the sources, who requested anonymity to discuss non-public personnel moves. The shift in roles reflects the White House ramping up its efforts to gain ground against China in a critical minerals arms race that touches a broad swath of global industries. China recently demonstrated its leverage by withholding exports of rare earth magnets, upending global markets and forcing U.S. officials back to the negotiating table, before reversing course. At the NSC, Copley will focus on strengthening U.S. supply chains and boosting U.S. access to the critical minerals that are often vital components of advanced military technology, two of the sources said. A White House official said Copley, who did not respond to a request for comment, will be overseeing the NSC's "international economics" component. Copley's precise title was not immediately clear, nor was it clear if he has formally left the NEDC. The decision to tap a mining expert for a top NSC position offers a window into how national security priorities have shifted under U.S. President Donald Trump. The NSC has been sharply downsized in recent months. Offices overseeing Africa and international organizations have been among those shuttered or downgraded, in line with the administration's skepticism of multilateral institutions. A special forces veteran was recently tapped to head the Latin America office, a move that comes as Trump has openly considered unilateral action against Mexican drug cartels. But Trump's focus on obtaining critical minerals like cobalt and nickel has never waned, and China's near-total control of the critical minerals industry has long rankled the president. In May, Reuters reported that Copley was among a clutch of officials who had been working on plans to pull Greenland deeper into America's sphere of influence, in part to ensure access to the island's vast deposits of rare earths. One of the sources said Copley's remit is, broadly speaking, "geostrategic affairs." Geostrategy is a field of international relations that focuses in part on the interplay of resource wealth and security, a matter of particular relevance for an administration that has made securing access to foreign resources a central element of its foreign policy. In April, the U.S. and Ukraine signed a sprawling deal to give the United States preferential access to Ukrainian minerals. An economist by training, Copley is an intelligence officer with the U.S. Navy Reserve, and he worked on Iraq-related issues for the State Department during Trump's first term. He previously held roles at minerals producer U.S. Silica. Copley consulted for Boston Consulting Group earlier in his career and served as an intelligence officer with the Defense Intelligence Agency, a component of the U.S. Department of Defense. Copley until recently had worked in a strategic development role for Denver-based Newmont, the world's largest gold miner by production with a market value of $54 billion. This article was generated from an automated news agency feed without modifications to text.
Mint
8 hours ago
- Mint
Wall Street Live: S&P 500, Nasdaq, Dow Jones edge up on US-Japan trade deal
Wall Street equity benchmarks edged higher on Wednesday after US President Donald Trump finalized a trade deal with Japan. At the open, the Dow Jones Industrial Average rose 158.7 points, or 0.36%, to 44661.12. The S&P 500 rose 17.3 points, or 0.27%, to 6326.9, while the Nasdaq Composite rose 73.8 points, or 0.35%, to 20966.467. The trade deal sets a base tariff of 15% on imports from Japan instead of the 25% threatened by President Donald Trump. Japan's auto sector will see existing tariffs cut to 15% from levies totaling 27.5% earlier. US Treasury Secretary Scott Bessent said in an interview with Bloomberg Television that Japan received the 15% rate on auto tariffs "because they were willing to provide this innovative financing mechanism" that he did not think other countries could replicate. As per the deal, Japan will buy 100 Boeing jets and raise defense spending with the US firms to $17 billion annually, from $14 billion, news agency Reuters reported citing a White House official. In the bond market, the yield on the 10-year Treasury rose to 4.37% from 4.35% late on Tuesday. Toymaker Hasbro's stock fell 3% even though it reported a stronger profit for the second quarter. Texas Instruments' stock sank 11.3% despite delivering quarterly results above wall street estimates. Gold prices fell on Wednesday after the US-Japan trade deal. As of 1351 GMT, spot gold was down 0.6% at $3,412.03 per ounce. US gold futures also slipped 0.7% to $3,421.50. Among other metals, spot silver rose to nearly 14-year high, gaining 0.2% to $39.35 per ounce. Platinum fell 1.4% to $1,420.92 and palladium was down 0.4% at $1,269.60. Oil prices continued its decline on Wednesday, as investors assessed global trade development. As of 1246 GMT, Brent crude futures were down 35 cents, or 0.5%, at $68.24 a barrel.
Time of India
12 hours ago
- Time of India
NYT Strands hints today, July 23: Spangram, theme, hints and answers revealed
The New York Times continues to stir up excitement among word puzzle enthusiasts with its popular game, NYT Strands. On Wednesday, July 23, 2025, the puzzle featured the quirky and delicious theme titled "Chips In", prompting players to dig through a grid of letters to uncover food-inspired terms that pair perfectly with chips. For those finding the puzzle a bit too flavorful to handle, hints and the all-important Spangram provided essential clues to crack the code. What is NYT Strands? NYT Strands is a brain-teasing word puzzle recently introduced by The New York Times as part of its growing digital Games section. Players are given a 6-by-8 letter grid and must discover words that relate to a shared theme. The twist lies in identifying a Spangram, a word or phrase that stretches across the grid, either horizontally, vertically, or diagonally, encapsulating the day's puzzle theme and unlocking the solution to other hidden words. Explore courses from Top Institutes in Please select course: Select a Course Category PGDM Artificial Intelligence Cybersecurity Data Science Finance CXO Digital Marketing Others Data Science Management MBA Leadership Product Management Data Analytics Operations Management Design Thinking Healthcare Public Policy Project Management Degree others Skills you'll gain: Financial Analysis & Decision Making Quantitative & Analytical Skills Organizational Management & Leadership Innovation & Entrepreneurship Financial Analysis & Decision Making Quantitative & Analytical Skills Organizational Management & Leadership Innovation & Entrepreneurship Duration: 24 Months IMI Delhi Post Graduate Diploma in Management (Online) Starts on Sep 1, 2024 Get Details Skills you'll gain: Financial Analysis & Decision Making Quantitative & Analytical Skills Organizational Management & Leadership Innovation & Entrepreneurship Duration: 24 Months IMI Delhi Post Graduate Diploma in Management (Online) Starts on Sep 1, 2024 Get Details Today's Theme: 'Chips In' For July 23, 2025, the NYT Strands puzzle's theme was titled 'Chips In' — a cheeky nod to a category of culinary favorites frequently served as appetizers or party snacks. The theme nudged solvers to think in terms of dips that complement chips, crackers, or raw veggies. The key to cracking the puzzle was in spotting the flavors hidden within — not literally, but linguistically. Whether it's creamy, chunky, spicy, or savory, today's answers were as diverse as a platter at a summer barbecue. Hints to Savor To guide players toward the solution, two subtle clues were presented: Live Events Hint #1 described a classic Mediterranean accompaniment: a Greek dish made of yogurt, cucumber, and mint — often recognized as Tzatziki . Hint #2 invoked a staple of Mexican cuisine: a mashed avocado dish with onions, tomatoes, and spices — better known as Guacamole . These clues pointed solvers toward a wider theme involving party dips that might accompany chips at a social gathering. Spangram Revealed The Spangram is often the centerpiece of any NYT Strands puzzle. For July 23, the Spangram stretched horizontally across the grid and began with the letters 'PA.' With the additional hint — 'creamy or chunky mixtures served with chips or vegetables' — players quickly connected the dots to form the word 'PartyDips.' This central clue tied together all other answers in the puzzle, offering a cohesive framework to work from. All Theme Words in Today's Puzzle The full list of theme words, once discovered, confirmed the party platter idea: SALSA FONDUE HUMMUS GUACAMOLE TZATZIKI QUESO Each of these items is a well-known dip or accompaniment for chips or other snacks, reinforcing the 'Chips In' motif. Notably, the diversity of cuisines — from Middle Eastern hummus to Swiss fondue — highlighted the global appeal of party dips. How the Puzzle Progressed For many players, the solve began with relatively familiar dips like Salsa and Fondue, providing early momentum. Once the common thread of dips was recognized, others like Queso and Hummus quickly followed. The Spangram 'PartyDips' then acted as a helpful anchor, bridging the rest of the theme words and leading to a satisfying completion of the puzzle. What Makes the Spangram Special? The Spangram — short for 'spanning anagram' — is a uniquely positioned answer that crosses the entire puzzle grid. Unlike other theme words, the Spangram doesn't have to touch the edge of the grid but must extend between two opposing sides. Its purpose is to act as a macro clue that defines the puzzle's thematic essence. Spotting the Spangram early can make a dramatic difference in solving efficiency. On days like July 23, where the theme is especially vivid, the Spangram becomes not just a hint — but a rewarding eureka moment for solvers. Growing Popularity of NYT Strands While Wordle and Connections continue to enjoy a loyal following, NYT Strands has quickly found its niche. With its mix of logic, vocabulary, and creative thinking, the game offers a more layered challenge, appealing to seasoned wordsmiths and puzzle enthusiasts. Each day's theme offers a new opportunity to explore language — from pop culture to cuisine to abstract concepts — and July 23's dip-centric edition showcased the platform's versatility. The 'Chips In' edition of NYT Strands was a flavorful journey through a world of global dips, bringing together culinary curiosity and linguistic agility. From tzatziki to queso, the puzzle delighted solvers with a theme that was as delicious as it was clever. FAQs What is NYT Strands? NYT Strands is a daily word puzzle developed by The New York Times as part of its digital games collection. Players are given a 6x8 letter grid and must identify themed words hidden within. One central element is the Spangram — a word or phrase that stretches across the grid and captures the puzzle's overall theme. What was the theme of the NYT Strands puzzle on July 23, 2025? The theme was 'Chips In,' which revolved around popular dips and snacks often served with chips at parties or gatherings.
