US EditionTreasury Flags $312 Billion in Suspicious Flows Tied to Chinese Networks Aiding Mexican Cartels
The U.S. Treasury warns banks to detect Chinese networks laundering over $312 billion since 2020, linked to Mexican cartels fueling fentanyl-related deaths.
- The Treasury Department wants U.S. financial institutions to monitor for suspected Chinese money laundering networks that support fentanyl trafficking in U.S. communities.
- An advisory highlights operations involving Mexican drug cartels.
- The Trump administration urges banks to identify customers likely involved in money laundering for cartels.
- Last year, law enforcement found a $50 million money laundering operation between Mexico's Sinaloa Cartel and Chinese underground banking groups.
68 Articles
68 Articles
China’s money-laundering networks “represent a significant threat to the US financial system,” not only because they have formed “a mutualist relationship,” a kind of symbiosis, with Mexican drug cartels that need to launder profits from other criminal activities, but also because they serve as scaffolding for real estate investments in the United States, noted the Financial Crime Control Network (FinCEN) of the U.S. Treasury Department.
Treasury identifies hundreds of billions in likely Chinese money-laundering
Chinese nationals engaged in extensive money-laundering operations in the United States, moving a suspected $312 billion in illicit cash over the past five years, the Treasury Department revealed Thursday.
By Uriel Blanco, CNN en Español The US Treasury Department has warned that Mexican cartels have been using Chinese money laundering networks to profit from drug sales in the United States. According to a notice issued Thursday by the Financial Crimes Enforcement Network (FinCEN)—attached to the US Treasury—Chinese networks collaborate with Mexican cartels to launder their profits through various strategies, such as “trade-based money laundering …
Treasury Says Chinese Money Launderers ‘Vital’ to Cartel Fentanyl Trafficking
The U.S. Treasury Department revealed in an Aug. 28 advisory the scope of Chinese money laundering networks’ pivotal role in the fentanyl crisis and the harm they have caused the United States. Banks are required by law to report suspicious activity indicative of money laundering. Reports between January 2020 and December 2024 show approximately $312 billion linked to suspected Chinese money laundering activity, according to the Treasury’s Finan…
The Treasury Department Wants Banks to Monitor for Money Laundering Networks
The Treasury Department wants U.S. financial institutions to monitor for suspected Chinese money laundering networks handling funds that are used to fuel the flood of fentanyl across American communities. An advisory Thursday to banks, brokers and others highlights how such operations are working with Mexican drug cartels. The Trump administration is calling on banks to flag certain customers who may fit a profile of people who could launder mon…
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