US Treasury Official to Strengthen Anti-Money Laundering Efforts in Colombia and Mexico

Lisa Palluconi, Acting Director of the Office of Foreign Assets Control, is visiting Colombia and Mexico to address money laundering and fentanyl smuggling. In Mexico City, she will discuss narco-trafficking and attend an event by the Association of Banks. In Bogota, she will speak at the U.S.-Colombia Joint Summit on Sanctions.

Lisa Palluconi, Acting Director of the Office of Foreign Assets Control, will travel to Colombia and Mexico this week to combat money laundering and fentanyl smuggling, a senior U.S. Treasury Department official confirmed to Reuters. Her visit aims to bolster efforts against the U.S. fentanyl crisis, including sanctions enforcement.

Palluconi's meetings in Mexico City will address the trafficking of fentanyl, a lethal narcotic that often enters the U.S. through its porous southern border. The drug, largely manufactured from chemicals sourced in China, has become the leading cause of death for Americans aged 18 to 45, with over 107,000 drug overdose deaths recorded in 2023.

The Treasury official noted that the U.S. collaborates closely with the Mexican government on sanctions. Palluconi is also set to attend an event hosted by the Association of Banks in Mexico, focusing on safeguarding financial system integrity and economic prosperity. In Bogota, she will deliver keynote remarks at the U.S.-Colombia Joint Summit on Sanctions and Anti-Money Laundering Compliance, reflecting the ongoing cooperation between the two nations in targeting major drug cartels and their financial networks.

(With inputs from agencies.)