Part 1:The main purpose of the Chinese money laundering organizations
4/26/2023【Subcommittee for on Health Care and Financial Services Hearing on the CCP Laundering Money for Cartels】Channing Mavrellis from Global Financial Integrity: The main purpose of the Chinese money laundering organizations is to gain access to US dollars outside of formal channels in order to evade Communist China’s strict currency controls.
Part 2: The Chinese Money Laundering Organizations (CMLOs) use WeChat to organize money laundering transactions
4/26/2023【Subcommittee for on Health Care and Financial Services Hearing on the CCP Laundering Money for Cartels】Channing Mavrellis from Global Financial Integrity: The Chinese Money Laundering Organizations (CMLOs) use WeChat to organize money laundering transactions, and they are also involved in Black Market Peso Exchange schemes. In the absence of necessary sanctions, the CMLOs will continue to be a preferred money laundering service provider for transnational criminal organizations in the future.
