Tag: Financial Crimes

By Brett Rowland | Just the News Treasury's Financial Crimes Enforcement Network said banks flagged about $312 billion in transactions. Chinese networks are laundering billions of dollars in drug cartel cash through the U.S. financial system, according to a new report from the Treasury Department. Treasury's Financial Crimes Enforcement Network said banks flagged about $312 billion in transactions from suspected Chinese money laundering networks from January 2020 to December 2024. That came from 137,153 Bank Secrecy Act reports from financial institutions. Treasury also linked Chinese money laundering networks to U.S. real estate transactions, casinos, human trafficking and even laundering through assisted living homes in New York. The networks also use Chinese students studying i...