Fentanyl Financiers: Treasury Links Mexican Banks and Chinese Networks to Cartel Money Laundering

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…

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