Mexican Firms Targeted by US for Laundering Get Reprieve (2)

The US Treasury is granting a 45-day reprieve to three Mexican financial firms it moved to cut off from the US financial system, citing progress by the country’s government in addressing money laundering by drug trafficking cartels.

The Treasury department’s ban on fund transfers with the designated firms will now take effect on Sept. 4, it said in a statement. The department’s Financial Crimes Enforcement Network slapped orders last month on CIBanco SA, Intercam Banco SA and brokerage Vector Casa de Bolsa SA prohibiting all transfers with them from late July.

“Treasury will continue to take every action necessary ...