Threat from Communist China

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.
Treasury Says Chinese Money Launderers ‘Vital’ to Cartel Fentanyl Trafficking
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
Catherine Yang
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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).

Catherine Yang
Catherine Yang
Author
Catherine Yang has been with The Epoch Times in New York since 2008. She also launched and previously served as chief editor of American Essence magazine and Epoch Health.