FinCEN Advisory on the Use of Chinese Money Laundering Networks by Mexico-Based Transnational Criminal Organizations to Launder Illicit Proceeds
The U.S. Department of the Treasury’s (Treasury) Financial Crimes Enforcement Network (FinCEN) is issuing this Advisory to urge financial institutions to be vigilant in identifying and reporting suspicious transactions potentially related to the use of Chinese money laundering networks (CMLNs) by the Jalisco New Generation Cartel (CJNG), the Sinaloa Cartel, the Gulf Cartel, and other Mexico-based transnational criminal organizations (TCOs)—frequently known collectively as the “Cartels”—to launder illicit proceeds. CMLNs are considered professional money launderers (PMLs) and play a vital role in laundering the Cartels’ drug proceeds in the United States. This is, in part, due to the speed and effectiveness of CMLNs’ money laundering operations, as well as their willingness to absorb financial losses and assume risks for the Cartels and other clients. Further, CMLNs operate around the world and may coordinate with other international PMLs, such as shadow banking networks and Colombian peso brokers. According to Treasury’s 2024 National Money Laundering Risk Assessment, CMLNs are one of the most significant money laundering threat actors facing the U.S. financial system.
