Reported about 6 hours ago
The US Treasury Department has instructed financial institutions to monitor and identify potential Chinese money laundering networks allegedly facilitating fentanyl trafficking linked to Mexican drug cartels. An advisory highlights that individuals such as Chinese students and retirees, who display unexplained wealth and provide minimal financial information, may be involved in circumventing currency regulations through underground banking channels. A recent report from the Financial Crimes Enforcement Network also details the broader expansion of these money laundering activities into areas like human trafficking.
Source: YAHOO