Cambodia-US operation uncovers money laundering link to Sinaloa Cartel
Summary
Cambodian and U.S. authorities uncovered a network using cryptocurrency to launder money for Mexico’s Sinaloa Cartel. They confiscated about $7 million in cryptocurrency, seized drugs and drug-making chemicals, made arrests, and shut down criminal locations in Cambodia.Key Facts
- Cambodian and U.S. anti-drug agencies worked together to find money laundering linked to the Sinaloa Cartel.
- About $7 million in cryptocurrency connected to the cartel was seized by Cambodian officials.
- Police also took over 200 kilograms of illegal drugs and more than one metric ton of chemicals used to make drugs.
- Four locations were raided in Phnom Penh and nearby Kandal province from August 1 to 5.
- The Sinaloa Cartel is known for producing fentanyl, a synthetic opioid that causes many overdose deaths in the U.S.
- Cambodia is mainly a transit area for drugs from the Golden Triangle region and has Chinese-led crime groups running scam centers.
- Cambodian authorities have recently increased efforts to shut down these criminal operations and arrest key leaders.
- The United Nations reports that Latin American cartels use Southeast Asia as a hub for drug supply, money management, and logistics.
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