@mitch @emory chinese organized crime basically owns the global money laundering market these days because they have been able to drive the costs down to almost nothing. laundering drug money used to cost 10-20%, now it costs 1%. one of the recent groups busted in the US was charging 0.5%.
they can do this because they charge Chinese citizens 20-40% to get their money out of the Chinese banking system.
the fentanyl precursor trade and other aspects of the illegal drugs market are an important part of how this all manages to happen without money ever technically crossing borders.
https://universeodon.com/@cryptadamist/113545103607831641
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