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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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26.06.25 - 18:45
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Treasury Sanctions 3 Mexican Financial Institutions For Aiding Cartels In Fentanyl Trade; Sheinbaum Denies (ZeroHedge)
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Treasury Sanctions 3 Mexican Financial Institutions For Aiding Cartels In Fentanyl Trade; Sheinbaum Denies
Update (1100ET): Mexican President Sheinbaum has commented on the sanctions, denying any fraud and claiming the Mexican banking system is 'sound':
*SHEINBAUM: NO EVIDENCE OF MONEY LAUNDERING IN MEXICAN BANKS
*SHEINBAUM SAYS MEXICO ONLY FOUND ADMINISTRATIVE FLAWS IN BANKS
*SHEINBAUM: MEXICO ASKED US TREASURY MONEY LAUNDERING EVIDENCE
*SHEINBAUM: MEXICAN FINANCIAL SYSTEM SOUND, ACCUSED FIRMS SMALL
*MEXICO TRANSFERS TO CHINA COS 'NOT MONEY LAUNDERING': SHEINBAUM
Just a coincidence?
* * *
As Naveen Athrappully detailed earlier via The Epoch Times, The Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) sanctioned three financial institutions based in Mexico for allegedly laundering money for cartels involved in the illegal trade of fentanyl, the Treasury said in a June 25 statement. The institutions are CIBanco S.A., Intercam Banco S.A.,...
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