US Treasury Launches Counter-Fentanyl Strike Force; Yellen Heads to Mexico

New initiative aims to disrupt financial networks supporting fentanyl trafficking as Yellen seeks to strengthen economic ties and supply chains with Mexico.

Treasury Secretary Janet Yellen is heading to Mexico to promote the US Treasury Department's new Counter-Fentanyl Strike Force, aimed at combating illicit fentanyl trafficking.
The Counter-Fentanyl Strike Force will bring together personnel and intelligence from throughout the Treasury Department to more effectively collaborate on stopping the flow of drugs into the US.
The task force will analyze the financial flows of trafficking organizations, especially those that rely on cryptocurrency to move funds; work with local law enforcement in areas hardest hit by the fentanyl epidemic and use financial institution records to detect transactions related to drug and human smuggling.
Yellen's visit to Mexico will also focus on strengthening economic ties and boosting supply chains through her 'friendshoring' initiative.
The creation of the task force and Yellen's Mexico trip are part of the Biden administration's plan to redouble its efforts to stem the tide of illegal fentanyl, following a meeting between President Joe Biden and Chinese President Xi Jinping where China agreed to curtail shipments of the materials used to produce fentanyl to Latin America.

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