On April 9, 2025, FinCEN released a Financial Trend Analysis on “Fentanyl-Related Illicit Finance: 2024 Threat Pattern & Trend Information”.
It noted that FinCEN analyzed 1,246 BSA reports that identified suspected fentanyl-related activity. These reports were filed between January and December 2024 and identified approximately $1.4 billion in suspicious transactions. The reported financial activity identified various aspects of the illicit fentanyl supply chain—including precursor chemical procurement, fentanyl trafficking, and fentanyl-linked money laundering—that have touchpoints across the U.S. financial sector.
Some interesting facts included:
- Depository institutions and money services businesses (MSBs) in the United States accounted for 57 and 32 percent of fentanyl-related BSA reports, respectively.
- Mexico and the People’s Republic of China (PRC), the top two foreign countries identified in subject address fields of BSA reports analyzed, play key roles in the production of fentanyl and subsequent money laundering activity.
- California, Florida, and New York Lead U.S. in BSA Reporting Subjects: Fentanyl-related financial activity in the United States primarily involved subjects in populous states with large urban areas that have established drug distribution networks and serve as collection points for illicit proceeds.
- Domestic sales of fentanyl appear to be conducted primarily in cash and peer-to-peer (P2P) transfers, which were referenced in 54 and 51 percent of BSA reports, respectively.
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Published
2025/05/09