Jun 9, 2026 NTD News

A House Financial Services subcommittee hearing exposed how Chinese money laundering networks have become the dominant professional money launderers for drug cartels, moving vast illicit proceeds while helping procure fentanyl precursors.

Treasury data shows roughly $312 billion in suspicious activity linked to these networks from 2020 to 2024 across hundreds of U.S. banks and money service businesses.