US Banks Launder $312B in Dirty Money for Chinese Gangs: New Report Shows Crypto Not Responsible

A new report reveals that US banks laundered an alarming $312 billion for Chinese money laundering networks between 2020 and 2024. The analysis, conducted by the FinCEN, examined over 137,000 Bank Secrecy Act reports and uncovered a significant flow of funds, averaging over $62 billion per year. This illicit activity is fueled by the symbiotic relationship between Chinese money laundering networks and Mexican drug cartels.