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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 have partnered with Mexican drug cartels to launder proceeds from fentanyl trafficking. This partnership has allowed cartels to increase their profits by 3-5% and created a sophisticated network that is difficult for law enforcement to tackle.

Fentanyl Trafficking
Money Laundering
Mexican Drug Cartels
Chinese Money Launderers

  • Chinese money launderers have partnered with Mexican drug cartels to launder proceeds from fentanyl trafficking.
  • This partnership is highly sophisticated and difficult for law enforcement to detect.

Insights from the Text:

1. A New Era of Money Laundering: The Rise of Chinese Money Launderers and the Fentanyl Crisis

This text reveals a chilling trend: the rise of Chinese money laundering networks, specifically their partnership with Mexican drug cartels. It's not just about moving money – it's about fueling a crisis. This partnership is driving the fentanyl epidemic, making it an urgent national security issue.

2. The Impact of "Mirror Transfer": Invisible Money, Deadly Consequences

The text sheds light on a sophisticated money laundering technique: "Mirror transfer." This method, effectively a hidden money exchange system, operates outside traditional banking systems and leaves no trace for authorities. This highlights the

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