On June 20th, the U.S. Department of the Treasury announced new measures to combat the opioid crisis through enhanced private-sector engagement. The Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on a Mexican drug trafficking network. Simultaneously, the Financial Crimes Enforcement Network (FinCEN) highlighted new trends and red flags in suspicious activities related to fentanyl supply chains in China and Mexico, aiding financial institutions in detecting and reporting the flow of illicit fentanyl.

In this Quick Take, our experts are joined by Stephen Tracy, former Program Manager of the U.S. Government’s Organized Crime Drug Enforcement Task Force (OCDETF) Program. During the program, we discuss the latest Treasury actions, provide insights into the evolving methods used by Transnational Criminal Organizations (TCOs), and share best practices for detecting red flags and suspicious activities related to the production and distribution of illicit precursor chemicals.