Treasury identifies hundreds of billions in likely Chinese money-laundering
Business
Chinese nationals engaged in extensive money-laundering operations in the U.S., moving a suspected $312 billion in illicit cash over the past five years, the Treasury Department revealed Thursday. The Financial Crimes Enforcement Network , known as FinCen , stated in a 22-page report on the threat that the Chinese networks use Chinese students and Beijing-linked real estate transactions to launder cash for drug cartels and other criminal organizations. Human trafficking by Chinese nationals is
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