On Thursday, the Treasury issued an advisory that Mexican drug cartels use money laundering networks to increase fentanyl in US cities
The Treasury Department wants US financial institutions to monitor for suspected Chinese money laundering networks handling funds that are used to fuel the flood of fentanyl across American communities.
The advisory released on Thursday highlights how these money laundering operations are working with Mexican drug cartels to fuel the flood of fentanyl across American communities.
The Trump administration is calling on banks to flag certain customers who may fit a profile of people who could launder money for cartels. That could include Chinese nationals such as students, retirees and housewives with unexplained wealth, and those who refuse to provide information about the source of their money.
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