StoneX seeks to acquire Intercam's assets in the US

US authorities have said that Intercam facilitates financial services for Mexican drug trafficking organizations, including the Sinaloa Cartel and the Jalisco New Generation Cartel. Credit: AFP

StoneX Group Inc. announced its intention to acquire the U.S. subsidiaries of Mexican bank Intercam Banco SA, which last week was among three firms accused by the Trump administration of facilitating money laundering for drug traffickers.