Chinese money laundering operations have become the preferred choice for Mexican drug traffickers, enabling them to move illicit funds around the globe. These organizations have witnessed exponential growth in recent years, leveraging technological advancements to launder dirty money quickly and efficiently.
The partnership between Chinese money launderers and Mexican cartels provides access to well-established networks operating in major metropolitan areas across the United States. The Department of Justice recently reported a successful operation that dismantled a Chinese money laundering cell responsible for laundering nearly $100 million in drug proceeds for a Mexican drug trafficking group.
To combat this issue, Treasury Secretary Janet Yellen has engaged with Chinese officials to address money laundering concerns. She and her team actively participate in working groups to gather information and develop strategies to combat this threat.
For every gram of fentanyl sold in the United States, there is a corresponding chemical supply chain. Authorities emphasize the importance of preventing dirty money from being concealed within the country or flowing back into the hands of cartels, terrorists, and other transnational criminal organizations. Senator Sheldon Whitehouse highlighted the need to ensure that illicit funds are not harbored in the United States to disrupt the funding of drug trafficking and other illegal activities.
