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30.08.25 - 00:36
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U.S. Treasury Warns Of $312 Billion Chinese Laundering Dark-Money Network For Mexican Cartels (ZeroHedge)
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U.S. Treasury Warns Of $312 Billion Chinese Laundering Dark-Money Network For Mexican Cartels
The U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) issued a warning on Thursday that Chinese money laundering networks (CMLNs) pose a substantial threat to the U.S. financial system, citing money laundering by Mexican drug cartels, including some that have been designated as Foreign Terrorist Organizations (FTOs).
FinCEN stated that it reviewed more than 137,000 Bank Secrecy Act reports from 2020 to 2024, identifying around $312 billion in suspicious transactions tied to CMLNs.
"Money laundering networks linked to individual passport holders from the People's Republic of China enable cartels to poison Americans with fentanyl, conduct human trafficking, and wreak havoc among communities across our great nation," stated Under Secretary for Terrorism and Financial Intelligence John K. Hurley. He said FinCEN's Advisory and Financial Trend Analysis reinforces Treasury's...
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15.08.25 - 03:09
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Treasury Sanctions Mexican Cartel Associates For Timeshare Scams Targeting Older Americans (ZeroHedge)
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Treasury Sanctions Mexican Cartel Associates For Timeshare Scams Targeting Older Americans
Authored by Naveen Athrappully via The Epoch Times (emphasis ours),
The Department of the Treasury's Office of Foreign Assets Control (OFAC) has sanctioned multiple individuals and companies linked to a Mexican cartel for engaging in timeshare fraud targeting U.S. citizens, the department said in an Aug. 13 statement.
The letters "CJNG" for the cartel's formal name, Jalisco New Generation Cartel, covers the facade of an abandoned home in El Limoncito, in the Michoacan state of Mexico, Oct. 30, 2021. AP Photo/Eduardo Verdugo, File
“These complex scams often target older Americans who can lose their life savings. The lifecycle of these scams can last years, resulting in financial and emotional devastation of the victims,” the department said.
Cartels typically obtain information on timeshare owners in Mexico from insiders working at resorts, Treasury said. Call centers then contact them, fa...
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