print
shareSign up for FREE Email Briefings
- -- Banker Briefing
- -- Compliance Briefing
- -- Security Spotlight
- -- Tech Talk
Treasury and State Department sanctions announced
The Department of the Treasury has announced that OFAC has designated six individuals and seven entities involved in a money laundering network supporting the Sinaloa Cartel. The Sinaloa Cartel is responsible for a significant portion of the illicit fentanyl and other deadly drugs trafficked into the United States and has exploited multiple ports of entry along the southern border for its criminal activities.
Treasury also reported that FinCEN had issued an alert urging financial institutions to be vigilant to bulk cash smuggling and repatriation by Mexico-based transnational criminal organizations. The alert outlines methodologies associated with these operations and highlights red flag indicators in an effort to better equip financial institutions to counter this illicit activity.
The Department of State announced its designation of six individuals who have engaged in actions or policies that threaten to further erode the autonomy of Hong Kong in contravention of China’s commitments, and in connection with acts of transnational repression.
For a link to names and identification information on the OFAC and State Department designated parties, see the March 31, 2025, BankersOnline OFAC Update.