Treasury warns banks of 'red flags' tied to customers in the US illegally
FinCEN issued 18 warning signs for banks to spot identity theft, payroll fraud and money laundering tied to unauthorized workers, officials said.
- On Friday, The Financial Crimes Enforcement Network issued an advisory directing banks to identify payroll schemes, identity theft, and money laundering tied to people living in the country illegally, marking the Trump administration's latest immigration crackdown.
- This directive follows an executive order signed by Trump in May requiring banks to scrutinize customer citizenship, directing regulators and government departments to detect signs of unauthorized individuals opening accounts or obtaining credit cards.
- Banking industry representatives successfully lobbied the White House to avoid mandatory citizenship collection, arguing it would require vast paperwork; the advisory now provides guidance rather than a mandate.
- While testifying before the Senate Finance Committee on Wednesday, Treasury Secretary Scott Bessent defended the administration's stance, stating, "This administration will not allow illegal aliens to abuse financial institutions.
51 Articles
51 Articles
The Treasury Department's financial crime division wants banks to help identify payroll schemes linked to undocumented migrants, as part of the Trump administration's latest move against this group.The Financial Crimes Control Network—also known as FinCEN—issued a notice this Friday, June 5 to banks asking them to pay attention to identity theft, tax fraud, and money laundering schemes linked to hiring unauthorized workers.This happens after Pre…
Treasury Tells Banks To Hunt The Cash Behind Illegal Hiring * 100PercentFedUp.com * by Donald
The President Trump administration just took its border fight straight into the banking system. On June 5, 2026, the U.S. Department of the Treasury announced that its Financial Crimes Enforcement Network, FinCEN, issued an advisory urging financial institutions to be vigilant against the risks tied to the unlawful employment of illegal aliens. Translation for the people who pay taxes and follow the rules: the banks are now being told to watch f…
Treasury advances immigration crackdown
The Treasury Department took its first step this morning toward implementing an executive order that drafted banks to help crack down on undocumented immigrants.The department’s illicit finance arm joined with other regulators to direct financial institutions to flag certain suspicious activity like identity theft and payroll fraud — as well as consider whether customers’ use of a taxpayer identification number, instead of a Social Security numb…
Donald Trump’s government is stepping up its offensive against undocumented immigrants. The U.S. Treasury Department has issued a Friday alert to ask banks to raise the spotlight to detect and denounce undocumented immigrant workers. “This Administration will not allow undocumented immigrants to abuse financial institutions to steal billions of dollars from hard-working U.S. taxpayers,” Treasury Secretary Scott Bessent said in writing. Continue …
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KULR-TVTreasury asks banks to flag payroll fraud tied to immigration
The Treasury Department wanted banks to help spot payroll schemes tied to people living in the country without legal status as the Trump administration expanded its immigration crackdown.
U.S. Treasury warns banks on risks of hiring unauthorized immigrants
The U.S. Treasury on Friday warned American financial institutions to remain vigilant against risks the federal government says are associated with the employment and hiring of immigrants who entered and are living in the United States illegally.
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