Treasury Says Chinese Money Launderers ‘Vital’ to Cartel Fentanyl Trafficking

‘Chinese money laundering networks are global and pervasive, and they must be dismantled,’ a Treasury official said.

Tablets suspected to be fentanyl are placed on a graph to measure their size at the Drug Enforcement Administration Northeast Regional Laboratory in New York City on Oct. 8, 2019. Don Emmert/AFP via Getty Images

The Treasury Department revealed in an Aug. 28 advisory the scope of Chinese money laundering networks’ role in the fentanyl crisis and the harm they have caused the United States.

Banks are required by law to report suspicious activity indicative of money laundering. Reports between January 2020 and December 2024 show approximately $312 billion linked to suspected Chinese money laundering activity, according to the Treasury’s Financial Crimes Enforcement Network (FinCEN).