The Financial Crimes Enforcement Network (FinCEN) held a FinCEN Exchange public-private partnership event bringing together global financial institutions, federal law enforcement agencies and Treasury officials to counter illicit finance, with a focus on denying Chinese money launderers access to the US and global financial systems. The Exchange formed part of Treasury’s broader effort to address Chinese money laundering networks (CMLNs). Since FinCEN’s CMLN Advisory and Financial Trend Analysis issued in August, FinCEN has received more than 500 CMLN-related Suspicious Activity Reports referencing the Advisory’s key term, describing around USD 7.1bn in suspected CMLN-related suspicious transactions between December 2018 and November 2025. FinCEN shared financial intelligence with participating institutions, underscored the value of Bank Secrecy Act (BSA) data, and encouraged firms to enhance and continue BSA reporting on these networks. Treasury indicated it will continue working with the People’s Republic of China to combat illicit activity.
Financial Crimes Enforcement Network 2025-12-19
Financial Crimes Enforcement Network convenes FinCEN Exchange to disrupt Chinese money laundering networks and cites $7.1bn in related suspicious transactions
FinCEN hosted an event to combat illicit finance, focusing on Chinese money laundering networks (CMLNs). Since the August CMLN Advisory, over 500 Suspicious Activity Reports have been filed, detailing about USD 7.1 billion in suspected transactions. FinCEN emphasized the importance of Bank Secrecy Act data and ongoing reporting, while Treasury plans to collaborate with China to address these issues.