U.S. Officials Enlist Financial Sector In Crackdown On Opioid Trafficking

U.S. authorities have issued a new advisory to banks and money transmitters over foreign narcotics traffickers using the formal financial system to facilitate the sale of illegal synthetic opioids.

The U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) on Wednesday warned financial institutions about "illicit financial schemes and mechanisms" related to the trafficking of fentanyl and other synthetic opioids.

The trend has significantly contributed to what FinCEN called "an unparalleled epidemic" of addiction in the United States, which has seen a surge in deaths in recent years.

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