‍Traditional Banks Facilitated $312 Billion in Laundering for Chinese Networks

A FinCEN report reveals US banks laundered $312 billion for Chinese money laundering networks between 2020-2024, often in partnership with drug cartels. This highlights a significant portion of illicit finance occurring within traditional systems.

Despite crypto's comparatively small role in illicit activities, it continues to face disproportionate scrutiny. Data suggests illicit activity in crypto is less than 1% of its overall volume, a fraction of the estimated $2 trillion laundered globally each year.

https://cryptovka.ru/en/news/4277/traditional-banks-launder-billions-while-crypto-takes-the-blame