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The new money laundering network fuelling the fentanyl crisis

As the city of Xiamen, China, is seen in the background, wartime anti-tank obstacles sit on a beach on October 7, 2023 in Kinmen, Taiwan. Kinmen is a group of islands in the Taiwan Strait that is governed by Taiwan and lies only a few miles off the coast of the People’s Republic of China. It’s strategic location served as the frontline during past conflicts with China, whose government sees the island nation as a breakaway province.
U.S. Attorney General Merrick Garland’s remarks are projected on a television screen as he announces the arrest of Chinese chemical company employees as part of an investigation into the fentanyl precursor supply chain during a news conference at the Robert F. Kennedy headquarters building on June 23, 2023 in Washington, DC. Photo: Chip Somodevilla / Getty Images

The Financial Times

11 min read
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US officials say Chinese organised crime groups are laundering much of the cash accumulated by Mexican drugs cartels.

26 June, 2024 by Joe Miller in New York and James Kynge in London

In January 2021, US Drug Enforcement Administration agents watched a man drop off a large white bag with “Happy Birthday” written on the side at an office complex in Downey, California. It contained $226,000 in cash.

Three months later they

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