U.S. Treasury Warns of $312 Billion in Chinese Laundering For Mexican cartels

FinCEN says Chinese networks moving billions for Mexican cartels also push illicit cash through U.S. real estate, elder care centers, and human trafficking schemes. WASHINGTON — The U.S. Department of the Treasury issued a stark warning Thursday that Chinese money laundering networks have become a primary engine driving Mexico-based drug cartels’ expansion into the United States, flagging $312 billion in cartel-linked suspicious transactions and a further $53.7 billion in illicit real estate activity over the past four years. Officials underscored the systemic risks posed by what they described as a sprawling global underground economy.