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US Banks ‘Prime Candidate for Exploitation’ by Money Launderers

  • Banks in the United States are increasingly being targeted by money launderers connected to drug cartels.
  • Money launderers utilize underground networks to deposit cash from drug sales at US bank branches and ATMs.
  • Incidents like a Chinese network depositing $92 million in cash at major banks have raised concerns.
  • The banking industry is urging the US government to revamp anti-money laundering regulations to combat fraud effectively.

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