Mexican Cartels Launder Fentanyl Proceeds Through US Casinos
A recent FinCEN report details how the Sinaloa and CJNG cartels launder billions of dollars through U.S. casinos and other financial institutions, primarily using proceeds from fentanyl trafficking. Nearly 1,300 suspicious activity reports were filed in 2024, with a significant portion involving depository institutions and money services businesses. The cartels utilize various methods, including wire transfers, cash smuggling, and complex international trade schemes involving Chinese businesses to obscure the origins of their illicit funds. These schemes often leverage front companies, money mules, and U.S.-based intermediaries to facilitate the laundering process.
John Q. Hosedrinker