Story perspectives

U.S. Targets 100 Firms in Cartel Money Laundering Crackdown

12/24/2025

Summary

Story summary

The U.S. Treasury Department is investigating more than 100 financial service businesses along the U.S.-Mexico border for ties to drug cartels.
The effort produced six investigation notices, IRS referrals, and over 50 compliance outreach letters.
Treasury Secretary Scott Bessent says the operation targets cartel money laundering and uses a data-driven approach.
The crackdown sanctions Venezuelan model Jimena Romina Araya Navarro and former Canadian snowboarder Ryan Wedding for alleged drug-trafficking support.

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Story summary

The U.S. Treasury Department is investigating more than 100 financial service businesses along the U.S.-Mexico border for ties to drug cartels.
The effort produced six investigation notices, IRS referrals, and over 50 compliance outreach letters.
Treasury Secretary Scott Bessent says the operation targets cartel money laundering and uses a data-driven approach.
The crackdown sanctions Venezuelan model Jimena Romina Araya Navarro and former Canadian snowboarder Ryan Wedding for alleged drug-trafficking support.