The US tried to stop cartel money-laundering. It devastated mom-and-pop businesses instead

Small businesses pay hidden toll after money-transfer rule change to curb illicit activities near the US-Mexico border

Last April, the Trump administration rolled out its latest tool in the fight against Mexican cartels: an aggressive crackdown on money transfers near the US-Mexico border.

The administration said that, in an effort to stop money laundering and other illicit activity, it would now require any business providing financial services in the region to report cash transactions over $200. Previously, the amount had been $10,000.