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Chinese brokers launder hundreds of millions for global crime groups | FT Film

Financial Times

1.1M Views . 2024-06-21

Chinese money launderers are facilitating the fentanyl epidemic and helping international drug traffickers, like Mexican cartels and the Italian mafia, launder the proceeds of crime. The FT investigates the connection between capital flight from China and global organised crime #moneylaundering #drugtrafficking #crime #china #organisedcrime #drugtrade #fentanyl #crime 00:00 - Introduction 00:55 - The rise of Chinese money brokers 03:06 - Fentanyl epidemic 04:51 - Ray Donovan 07:05 - All roads lead to Flushing 11:40 - Chinese money laundering goes global 12:32 - Italian mafias 13:46 - Ndrangheta 14:26 - Port of Gioia Tauro 16:26 - Illegal money collection centres 18:40 - Vanishing remittances 21:12 - Fentanyl deaths 25:07 - Project Sleeping Giants 27:35 - Xizhi Li 29:54 - Renewed cooperation with China 31:25 - Rise of triads 32:17 - Capital flight See if you get the FT for free as a student (http://ft.com/schoolsarefree) or start a £1 trial: https://subs.ft.com/spa3_trial?segmentId=3d4ba81b-96bb-cef0-9ece-29efd6ef2132. ► Check out our Community tab for more stories: https://www.youtube.com/@FinancialTimes/community ► Listen to our podcasts: https://www.ft.com/podcasts ► Follow us on Instagram: https://www.instagram.com/financialtimes'

Chinese money launderers are now partnering with Mexican drug cartels to launder the profits of fentanyl trafficking, and this new partnership is allowing the cartels to increase their profits by 3-5%. Law enforcement is struggling to combat this because the laundering networks are highly sophisticated and operate on a massive scale.

fentanyl trafficking
money laundering
Chinese money launderers
Mexican drug cartels

  • Chinese money launderers have partnered with Mexican drug cartels to efficiently launder the proceeds of the fentanyl trafficking.
  • Law enforcement is struggling to tackle this issue due to the sophistication of these networks and their ability to move large amounts of money quickly and invisibly.

Insights from the YouTube Video Text:

1. The Rise of Chinese Money Laundering in the Fentanyl Trade: This text reveals a worrying trend: Chinese money launders have partnered with Mexican drug cartels to efficiently launder the proceeds of the fentanyl trade. The scale and sophistication of this operation are unprecedented, posing a significant threat to national security.

2. The "Mirror Transfer" System: A Modern-Day Money Laundering Tool The text describes a sophisticated money laundering technique called "Mirror Transfer" used by Chinese underground banks. This system allows for large sums of money to be transferred invisibly, effectively evading authorities and enabling the flow of illicit funds.

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