The Financial Crimes Enforcement Network issued warnings on the threats posed by Chinese money laundering networks to the U.S. financial system.
Details: FinCEN issued:
An advisory urging financial institutions to be vigilant in detecting the use of CMLNs by Mexico-based drug cartels, including several designated as foreign terrorist organizations.
A financial trend analysis highlighting the scope and breadth of CMLN activity in the United States.
Scope of the Threat: FinCEN said it analyzed 137,153 Bank Secrecy Act reports filed by financial institutions between January 2020 and December 2024 associated with suspected CMLN-related activity, totaling approximately $312 billion in suspicious transactions.