The U.S. Treasury accuses CIBanco and Intercam Banco of money laundering and facilitating payments related to fentanyl.

The National Banking and Securities Commission (CNBV), a government agency, has taken control of the Mexican banks CIBanco and Intercam.

Mexican President Claudia Sheinbaum has responded sharply to U.S. government sanctions blocking transfers from three Mexican financial institutions, saying Washington hasn’t shown evidence of its allegations of money laundering.