⁍ U.S. State Department says Cuban military uses Fincimex to charge fees and manipulate the remittance and foreign currency market.

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⁍ Military-owned Fincimex is the main Cuban partner of foreign credit card companies and money transfer firm Western Union WU.N.

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– The US is adding a unit of Cuba’s military-owned Fincimex to a list of companies prohibited from doing business with the Cuban government, Reuters reports. American International Services, a unit of Fincimex, is the main Cuban partner of foreign credit card companies and money transfer firm Western Union, which Cubans in the United States have used for two decades to send money back to their loved ones on the Caribbean island. The US State Department said on Monday it was adding American International Services, a unit of Fincimex, to the Cuba Restricted List, saying the Cuban military uses it to charge fees and manipulate the remittance and foreign currency market.