OFAC Targets Chinese Money Launderers

Following on the June 18 Indictments of the Los Angeles money launderer for the Mecican drug traffickers, Treasury’s Office of Foreign Assets Control (OFAC) sanctioned a Mexico-based money launderer and China-based members of a money laundering organization with criminal links to the Sinaloa Cartel..

The United States is working with Chinese authorities to target illicit financing networks, including those linked to the fentanyl trade. Chinese Money Laundering Organizations are now one of the key actors laundering money professionally in the United States and worldwide, and are rapidly becoming one of the most prominent money laundering threat actors facing the U.S. financial system.