FinCEN's Warning on Cryptocurrency Use in Drug Trafficking

The Financial Crimes Enforcement Network (FinCEN) of the U.S. Treasury Department has issued an updated advisory alerting financial institutions about the growing usage of cryptocurrencies in illicit drug trafficking.

Specific Cryptocurrencies Implicated

The advisory highlights Bitcoin (BTC), Ethereum (ETH), Monero (XMR), and Tether (USDT) as being commonly used in these illegal transactions.

Modus Operandi of Criminal Organizations

According to FinCEN, Mexican criminal organizations are employing cryptocurrencies to procure raw materials for drug production from Chinese suppliers. These transactions are reportedly facilitated via cryptocurrency exchanges.

Enforcement Actions

The advisory cites recent enforcement actions taken by U.S. authorities against parties engaging in such illicit activities. In October, eight Chinese-linked companies were charged with drug production, distribution, and sales involving precursor chemicals.

Challenges and Concerns

FinCEN's warning underscores the challenges posed by the anonymity of cryptocurrencies and their potential misuse in illegal activities. The advisory serves as a reminder of the ongoing efforts by authorities to counter these threats.

FinCEN 的警告強調了加密貨幣的匿名性及其在非法活動中可能被濫用所帶來的挑戰。該諮詢提醒人們當局正在努力應對這些威脅。

Note: This advisory does not constitute investment advice.

註：本諮詢不構成投資建議。