US banks can no longer process money for ten Mexican gambling operations

The US Treasury Department wants to stop money laundering through Mexican gambling establishments. It proposes that US banks cannot open or maintain accounts for foreign banks if those accounts are used by ten specific Mexican gambling businesses.

This means US banks must now actively check if their foreign correspondent accounts are being used by these named Mexican gambling operations. It shifts the burden of policing these transactions directly onto the banks, forcing them to implement new due diligence procedures. This is a targeted move to cut off specific money laundering channels.