The Drug Enforcement Administration, or DEA, seized more than 77 million fentanyl pills and nearly 12,000 pounds of fentanyl powder in 2023. It is on pace to break that record in 2024. The DEA is looking to the private sector for help.
Mexican Cartels are able to make fentanyl pills for as little as two cents per pill. Those pills are later sold in the U.S. for as much as $60 per pill. These cartels are invested in what is estimated to be a multi-billion dollar enterprise.
The DEA launched a new operation named “Operation Cash Out” this week. The operation is focused on seizing the assets of Mexican drug cartels in Colorado, Utah, Wyoming and Montona.
DEA investigators contacted over 200 money service businesses and financial institutions to ask for help in investigating the movement of the cartels’ money.
According to the DEA, $63 billion in remittances were sent to Mexico in 2023, more than 96% of that money was sent from the U.S. While it is unclear how much of that was from illegal activity, the DEA estimates that the figure is still significant.
“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 David Olesky, Acting Special Agent in Charge for DEA’s Rocky Mountain Field Division. “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.”
The operation is an attempt to slow down the amount of fentanyl that comes into the region. The Rocky Mountain region seized 9.8 million dosage units of fentanyl in 2023 which was a 50% increase from the year before.
“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,” said Rocky Mountain HIDTA Executive Director Keith Weis.
