Tag: CMLN

FinCEN warns of Chinese money-laundering networks — cartels, “daigou” TBML & U.S. real estate in focus

Compliance Charlene Lensburg -
The U.S. FinCEN today released a new Advisory and a Financial Trend Analysis (FTA) on Chinese Money Laundering Networks (CMLNs). Bottom line: highly professional, global networks wash cartel proceeds via U.S. accounts held by Chinese nationals, “daigou”-style trade-based money laundering (TBML), complicit insiders at financial institutions, and U.S. real estate.