FinCEN sounds alarm on Chinese ML networks active in USA

FinCEN, the American financial intelligence unit (FIU), has warned about Chinese money laundering networks (CMLNs) operating in the USA, stressing their alliance with Mexican drug cartels and stating they are mentioned in 137,153 suspicious activity reports (SARs) logged between 2020 and 2024, referencing funds totalling US$312 billion.

By Keith Nuthall

FinCEN, the American financial intelligence unit (FIU), has warned about Chinese money laundering networks (CMLNs) operating in the USA, stressing their alliance with Mexican drug cartels and stating they are mentioned in 137,153 suspicious activity reports (SARs) logged between 2020 and 2024, referencing funds totalling US$312 billion.