A Mexican bank recently sanctioned by the U.S. Treasury for allegedly laundering cartel-linked funds has a U.S. subsidiary with a Federal Reserve master account, granting it direct access to the U.S. payment system. The U.S. entity obtained its master account in 2021, coinciding with the period when crypto firms like Kraken and Custodia Bank faced challenges in securing similar accounts. Intercam Banco, the parent company, has denied the allegations, asserting its adherence to anti-money laundering (AML) and counter-terrorism financing (CTF) principles for nearly three decades. It remains unclear if the U.S. affiliate has conducted business with the sanctioned parent.