DEA’s operation targets fentanyl cartels’ finances
(COLORADO) — The Drug Enforcement Administration (DEA) launched an operation during the week of Monday, May 13 targeting cartels distributing fentanyl.
The DEA Rocky Mountain Field Division comprised of Colorado, Utah, Wyoming, and Montana launched “Operation Cash Out,” an operation that focused on cartels’ money.
The fentanyl trade is estimated to be a multi-billion-dollar enterprise for Mexico-based cartels. Fentanyl pills are made in Mexico for as little as two cents per pill and can sell for upwards of $60 per pill in the U.S.
During the week of May 13, the DEA, Internal Revenue Service (IRS), and the Rocky Mountain High-Intensity Drug Trafficking Area investigators contacted close to 200 money service businesses and financial institutions seeking cooperation and collaboration in investigating the movement of cartels’ proceeds. The DEA also continues to target the illicit financial activities of the Sinaloa Cartel and Jalisco Cartel through investigations focusing on their bulk cash smuggling and money laundering networks.
“Fentanyl is a synthetic opioid, and with a limitless supply of precursor chemicals originating in China and destined for Mexico, the Mexico-based cartels can produce an endless supply. No matter how much fentanyl we seize, they can make more,” said Acting Special Agent in Charge for DEA’s Rocky Mountain Field Division David Olesky. “The only thing they care about is their money. This interagency operation intends to target the networks and seize their assets through building stronger relationships with the private sector financial community.”
According to Mexico’s Central Bank, Banxico, more than $63 billion in remittances was sent to Mexico in 2023, with more than 96% of the money being sent to Mexico being from the U.S.
In 2023, the DEA seized more than 77 million fentanyl pills nationally, with a record of more than 3.6 million pills being seized across Colorado, Utah, Wyoming, and Montana. Fentanyl is the leading cause of death for Americans between the ages of 18 and 45.
“Right now there is an urgency in slowing down the flow of deadly illicit fentanyl into the region to help save lives. Rocky Mountain HIDTA-supported task forces seized almost 9.8 million dosage units of fentanyl last year, a 50% increase over the previous year, and there are no signs the availability of the powerful narcotic slowing down,” said Rocky Mountain HIDTA Executive Director Keith Weis said. “Operation Cash Out is an important strategy because working with money service businesses (MSBs) throughout the region will help law enforcement potentially identify and seize illegal profits gained from fentanyl distribution. It can ultimately disrupt the most significant drug trafficking organizations impacting our Rocky Mountain communities.”
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