Narco brokers in Mexico, a booming business thriving alongside Chinese money-laundering networks

Bojun He, known as “El Chino”, was arrested in Mexico City with $2 million and 43 million pesos, and is accused of leading a money-laundering network serving organised crime. His case has drawn attention to financial brokers who connect Mexican cartels with Chinese laundering networks, helping move and disguise illicit funds across borders.

Experts cited in the article say extensive trade between China and Mexico can help conceal illegal transactions among legitimate shipments, while Chinese networks charge an estimated 3% to 5% for laundering, compared with 10% to 15% from other providers. One method described is triangulating money between China, Mexico and the United States, including through Fei Qian, an informal transfer system; the article also notes China’s annual $50,000 limit on citizens withdrawing foreign currency.