Treasury Sanctions Drug Trafficking Leader, Publishes Bank Reporting Trends
The U.S. this week sanctioned Mexican national Jesus Alfredo Beltran Guzman for trafficking illegal drugs into the U.S. and for being a key leader of the drug trafficking group Beltran Leyva Organization. The Office of Foreign Assets Control said the group is "one of the most powerful drug trafficking organizations in the world, and it has moved fentanyl, cocaine, heroin and methamphetamine into the U.S.
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The Financial Crimes Enforcement Network also released a 21-page trend analysis of suspected fentanyl-related transactions reported in Bank Secrecy Act reports filed between January and December 2024. FinCEN said U.S. financial institutions, including depository institutions and money services businesses, accounted for 57% and 32%, respectively, of fentanyl-related BSA reports, and Mexico and China were the top two foreign countries identified in those reports' address fields. Electronic funds transfers were the most common payment mechanism referenced in fentanyl-related BSA reporting, FinCEN said.