Treasury Links Mexican Banks and Chinese Networks to Cartel Money Laundering

Breitbart

The U.S. Department of the Treasury is stepping up its efforts to identify the ways that drug cartels move their funds. Most recently, Treasury officials identified the presence of Chinese money laundering networks that are working with Mexican drug cartels and other criminal entities to move large sums of cash.

In a series of notices from the U.S. Treasury’s Financial Crimes Enforcement Network, authorities warned financial institutions about the methods that criminal organizations are using to launder money. According to FinCEN, investigators reviewed 137,153 Bank Secrecy Act reports from 2020 to 2024, identifying $312 billion in suspicious transactions tied to Chinese money laundering networks.

Of significant concern to FinCEN is the apparent ties between Mexican drug cartels and Chinese money laundering groups. more

10 Comments on Treasury Links Mexican Banks and Chinese Networks to Cartel Money Laundering

  1. “The money laundering groups rely on U.S.-based Chinese nationals to make regular cash deposits. In an attempt to counter this tactic, authorities warned banks to be on the lookout for Chinese students, retired individuals, housewives, or laborers who begin making large cash deposits without having a way to prove the source of income.”

    Isn’t this the kind of stuff that the FISA court was supposed to be used for?

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  2. Uncle Al, I’d like to see ChiCom and the Muslim nations at war!

    The mussies would have to join the Cartels to make it somewhat even.

    Than the rest of the world can sit back and watch the destruction.

    Yup, that’s going to be my Christmas wish this year!

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  3. JC — I guess my comment was esoteric or better known among the people who know west coast history. In the 1800s and into the 1900s, Chinese immigrants to the U.S., who worked on the building of railroads in the west, introduced us to opium dens and cheap, open stall, laundries. The laundries were fronts for the opium trade. Thus, “opium” and “laundries”.

    I was sure everyone would pick up on my clever connection to the Chinese opioid and money laundering duo.

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  4. AA,
    Being a lackadaisical student of history, yes, I got your double pun reference.
    (and I’m jealous that I didn’t think of it first)

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  5. Woodman — Yes, those wily Chinese — using their 1000 year-old playbook.

    We should be looking more closely at what’s going on in our country with Chinese checkers and Chinese jump ropes, too.

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