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DOJ: Cartel Allegedly Laundering Drug Money via Chinese 'Underground Banking'

  • #China
  • #Mexico
  • #Drug abuse & traffic
  • #Computer Science
DOJ: Cartel Allegedly Laundering Drug Money via Chinese 'Underground Banking'
story
JUN 2024
Above: A cashier at a Travelex Bureau de Change counts US dollars in exchange for British pounds February 19, 2004 in London. Image copyright: Ian Waldie/Staff/Getty Images News via Getty Images
story last updated JUN 2024

The Spin

Anti-China narrative

China is deeply embedded in the deadly drug trade that costs the lives of countless Americans every year. Internal corruption and an antipathy to US cooperation have made the PRC a major source of synthetic opioid drugs, and it should come as no surprise that there are connections to money laundering for violent cartels. Beijing needs to clean house and crack down on this dangerous black market.

Brookings

Pro-China narrative

This massive case could not have come together without the cooperation of Chinese authorities, which led to this impressive indictment. China is not the reason America has such a great demand for illicit drugs, but it will always step up to ensure its citizens are not involved in crime anywhere in the world. The world always benefits when the US ceases its provocations and cooperates in good faith with China.

Chinadaily

Metaculus Prediction


Establishment split

CRITICAL

PRO

DEA operation exposes growing links between Sinaloa cartel and Chinese organized crime
NBCJUN 2024
Multi-year DEA investigation accuses drug cartel of laundering millions through Chinese network in LA
FOX NewsJUN 2024
Chinese shadow bankers helped Mexican cartel launder drug money, US says
Al JazeeraJUN 2024
Sinaloa Cartel laundered $50M through Chinese network in Los Angeles, prosecutors say
USA TodayJUN 2024
24 people charged in money laundering scheme involving Mexico’s Sinaloa cartel, prosecutors say
Associated PressJUN 2024
Chinese 'underground bankers' launder Sinaloa drug money: U.S.
Raw StoryJUN 2024