by John Binder, Breitbart:
Trafficking fentanyl into the United States is a billion-dollar enterprise for the Mexican drug cartels, the Treasury Department detailed in a new report.
On Wednesday, Treasury Secretary Scott Bessent issued findings from the Financial Crimes Enforcement Network (FinCEN), revealing that from January to December 2024, banks filed almost 1,250 Bank Secrecy Act reports identifying some $1.4 billion in suspected fentanyl-related activity by the Mexican drug cartels.
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Those activities include trafficking fentanyl, laundering money from fentanyl sales, and procuring of fentanyl precursor chemicals.
“As Treasury continues to prioritize combating the illegal production and trafficking of fentanyl, our public-private partnerships are vital,” Bessent said in a statement:
As today’s analysis shows, the information we receive from financial institutions is a critical element in our ability to more effectively investigate and disrupt the malicious actors that profit off this unprecedented epidemic, and ultimately aids in the effort to save American lives.
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