Crypto took part as a bad guy, but banks quietly carry billions in suspicious funds
On Thursday, Fincen drew attention to a Chinese crypto and money laundering networks that expanded by saying that they play an important role in the transport of illegal funds based on Mexican -based drug cartels and other crimes.
According to the Treasury Agency, warning It comes with a consultation that summarizes how networks work and where banks are looking for problems, as well as financial trend analysis.
Numerous and Red Flag
Fincen reviewed the 137.153 Bank Privacy Law reports, which are between January 2020 and December 2024 and suspected by these networks.
These applications are about 312 billion dollars in suspicious transactions. Banks also marked the 17,389 report of the real estate sector and represented more than $ 53.7 billion suspicious activities.
The agency shows that these figures are widespread and that the US financial system touches many parts.
Fincen has published an advice and financial trend analysis that increases alarm in Chinese money laundering networks, which pose a significant threat to the US financial system.https://t.co/qejjmzqayw
– Financial Crimes Application Network (FINCEN) (@FincenNtenws) 28 August 2025
Cartel -China Connection
Reports I explained a practical regulation: Mexican -based cartels While you need to get rid of the US dollar in Mexican banks that they cannot easily move, some Chinese citizens want the dollar to receive money from China.
This gap creates a market. Networks buy illegal dollars from cartels and often sell them to buyers in China using social media broadcasts, personal networks or informal channels.
Trade -based plans, mirror operations and money laundering It is widely used to cover mule procedures and parts.
As of today, the market cap of cryptocurrencies stood at $3.72 trillion. Chart: TradingView
Links to crypto and other crimes
Fincen’s analysis binds these nets more than drug money. Financial institutions presented 1,675 reports that could include human trafficking or human smuggling.
43 reports with a total of approximately 766 million dollars referred to 83 adults and senior day care center with New York addresses.
Image: AlexSava/Getty Images
There were 108 reports depending on suspicious health fraud, elderly abuse or suspicious game activity.
These figures show that networks help to move revenues not only from narcotics, but from a series of penalties.
Inside, fake documents and complex opportunities
The inspectors marked the cases where the inside of financial firms helped from inside or used fake Chinese passports to open an account of networks. Layer transactions and shell companies were used to hide the fund source.
Some participants are not aware. In many cases, the same methods that conceal the dollar flows make it difficult for banks to detect until the crime develops.
Crypto bad guy?
The crypto traditionally labeled as a bad man in the debate on money laundering, but the statistics say otherwise.
With 312 billion dollars of suspicious transactions reported through banks and mainstream institutions, the size of the dirty currency in the mainstream finance is much more outlined than what moves along the crypto currencies.
Critics argue that the spotlight in the crypto is unnecessary when a greater danger is hidden in the banking system.
The prominent picture from Aba Baniing Journal, TradingView Chart
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