Arheel's Uncle
Senior Reporter
Over the years, I observed an awful lot of Chinese restaurants open for a short time, then suddenly go out of business.
I became curious.
Chinese money laundering in chinese restaurants in usa today
That is how CCP money laundering has been done.
The "tells" for me was, there was no news reported, no complaints from the Chinese business community.
Trump was behind the 2020 report which this report references. During the 2020 CCP led Saint Groyd riots their CCP operatives were targeting the destruction of court houses, where computer files were held, also police stations were destroyed.
IRS IS AFTER THESE CCP CHINESE SHYSTERS, aka Transnational Organized Crime Syndicates.
This is a PDF file, 6 pages.
https://oversight.house.gov › wp-content › uploads › 2023 › 04 › Hearing-on-Chinese-Money-Laundering-Mavrellis-Written-Testimony-4.26.2023-FINAL.pdf
April 26, 2023
Chairwoman McClain, Ranking Member Porter, and distinguished members of the Subcommittee on
Health Care and Financial Services, it is an honor and privilege to testify before you today about Chinese
money laundering organizations.
In the last few years, reporting has increased on the involvement of Chinese money laundering
organizations (CMLOs) with the laundering of narcotics proceeds in the Western Hemisphere.
However, this is not a new phenomenon. The Treasury’s 2020 National Strategy for Combating Terrorist
and Other Illicit Financing noted the increase in complex money laundering schemes involving Chinese
citizens residing in the U.S. who, acting as money brokers, laundered drug-related cash proceeds via trade-
related schemes in order to repatriate money to Mexico.1 Additionally, Drug Enforcement Administration
(DEA) annual National Drug Threat Assessments (NDTAs) have reported the involvement of CMLOs
offering their services to Mexican, Colombian, and Dominican transnational criminal organizations (TCOs)
since at least 2016.2
More importantly, the drivers behind the involvement of CMLOs in the laundering of narcotics proceeds
in the Western Hemisphere are solidly linked to other countries’ domestic policies, not U.S. immigration
or border policies.
Specifically, China’s economic policy in regards to foreign exchange controls prevents money from freely
moving into or out of the country unless it abides by strict rules. For individuals, the Chinese State
Administration of Foreign Exchange regulations set in 2017 cap foreign exchange transactions at roughly
US$50,000 per year. Those Chinese citizens seeking to exchange or transfer in excess of that amount
frequently turn to informal means, which I’ll discuss shortly.
Additionally, Mexico adopted a stricter anti-money laundering/countering the financing of terrorism
(AML/CFT) policy in 2010 by placing stringent restrictions on the deposit of U.S. dollars into Mexican bank
accounts, for example limiting individual account holders to no more than US$4,000 in cash per month.3
This policy was intended to combat narcotics-related bulk cash, which it did. However, it also caused
cartels looking to move and launder narcotics proceeds to search for new strategies, such as the use of
CMLOs.
At the same time, Colombia has taken steps to develop “one of Latin America’s most rigorous AML
regimes,”
according to a recent U.S. International Narcotics Control Strategy Report.4 While the Colombian
References for page 1:
1 U.S. Department of the Treasury, National Strategy for Combating Terrorist and Other Illicit Financing, 2020
(Washington, D.C.: U.S. Department of the Treasury, 2020), 24,
2 Drug Enforcement Administration, National Drug Threat Assessment 2016 (Washington, D.C.: Drug Enforcement
Administration, 2016), https://www.dea.gov/sites/default/files/2018-07/DIR-001-17_2016_NDTA_Summary.pdf.
3 Regulations additionally limit Mexican citizens that are non-account holders to deposits of no more than
US$1,500 monthly, and businesses can deposit up to US$14,000 cash, however exceptions are allowed if
businesses meet stringent criteria. “Mexico - Foreign Exchange Controls,” Privacy Shield, accessed April 24, 2023,
4 U.S. Department of State, International Narcotics Control Strategy Report, Volume II: Money Laundering, 2020
(Washington, D.C.: Bureau of International Narcotics and Law Enforcement Affairs, U.S. Department of State,
2020), 82, https://www.state.gov/wp-content/uploads/2020/03/Tab-2-INCSR-Vol-2-508.pdf.
You can download and read the rest
I became curious.
Chinese money laundering in chinese restaurants in usa today
That is how CCP money laundering has been done.
The "tells" for me was, there was no news reported, no complaints from the Chinese business community.
Trump was behind the 2020 report which this report references. During the 2020 CCP led Saint Groyd riots their CCP operatives were targeting the destruction of court houses, where computer files were held, also police stations were destroyed.
IRS IS AFTER THESE CCP CHINESE SHYSTERS, aka Transnational Organized Crime Syndicates.
This is a PDF file, 6 pages.
https://oversight.house.gov › wp-content › uploads › 2023 › 04 › Hearing-on-Chinese-Money-Laundering-Mavrellis-Written-Testimony-4.26.2023-FINAL.pdf
China in Our Backyard: How Chinese Money Laundering Organizations
How does China use its economic power to facilitate money laundering and evade sanctions? This is the question that Charles Mavrellis, a global financial crime expert, addressed in his written testimony to the House Committee on Oversight and Reform in April 2023.April 26, 2023
Chairwoman McClain, Ranking Member Porter, and distinguished members of the Subcommittee on
Health Care and Financial Services, it is an honor and privilege to testify before you today about Chinese
money laundering organizations.
In the last few years, reporting has increased on the involvement of Chinese money laundering
organizations (CMLOs) with the laundering of narcotics proceeds in the Western Hemisphere.
However, this is not a new phenomenon. The Treasury’s 2020 National Strategy for Combating Terrorist
and Other Illicit Financing noted the increase in complex money laundering schemes involving Chinese
citizens residing in the U.S. who, acting as money brokers, laundered drug-related cash proceeds via trade-
related schemes in order to repatriate money to Mexico.1 Additionally, Drug Enforcement Administration
(DEA) annual National Drug Threat Assessments (NDTAs) have reported the involvement of CMLOs
offering their services to Mexican, Colombian, and Dominican transnational criminal organizations (TCOs)
since at least 2016.2
More importantly, the drivers behind the involvement of CMLOs in the laundering of narcotics proceeds
in the Western Hemisphere are solidly linked to other countries’ domestic policies, not U.S. immigration
or border policies.
Specifically, China’s economic policy in regards to foreign exchange controls prevents money from freely
moving into or out of the country unless it abides by strict rules. For individuals, the Chinese State
Administration of Foreign Exchange regulations set in 2017 cap foreign exchange transactions at roughly
US$50,000 per year. Those Chinese citizens seeking to exchange or transfer in excess of that amount
frequently turn to informal means, which I’ll discuss shortly.
Additionally, Mexico adopted a stricter anti-money laundering/countering the financing of terrorism
(AML/CFT) policy in 2010 by placing stringent restrictions on the deposit of U.S. dollars into Mexican bank
accounts, for example limiting individual account holders to no more than US$4,000 in cash per month.3
This policy was intended to combat narcotics-related bulk cash, which it did. However, it also caused
cartels looking to move and launder narcotics proceeds to search for new strategies, such as the use of
CMLOs.
At the same time, Colombia has taken steps to develop “one of Latin America’s most rigorous AML
regimes,”
according to a recent U.S. International Narcotics Control Strategy Report.4 While the Colombian
References for page 1:
1 U.S. Department of the Treasury, National Strategy for Combating Terrorist and Other Illicit Financing, 2020
(Washington, D.C.: U.S. Department of the Treasury, 2020), 24,
Loading…
home.treasury.gov
Administration, 2016), https://www.dea.gov/sites/default/files/2018-07/DIR-001-17_2016_NDTA_Summary.pdf.
3 Regulations additionally limit Mexican citizens that are non-account holders to deposits of no more than
US$1,500 monthly, and businesses can deposit up to US$14,000 cash, however exceptions are allowed if
businesses meet stringent criteria. “Mexico - Foreign Exchange Controls,” Privacy Shield, accessed April 24, 2023,
Privacy Shield
www.privacyshield.gov
(Washington, D.C.: Bureau of International Narcotics and Law Enforcement Affairs, U.S. Department of State,
2020), 82, https://www.state.gov/wp-content/uploads/2020/03/Tab-2-INCSR-Vol-2-508.pdf.
You can download and read the rest
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