FinCEN Issues Advisory Warning Banks on Payroll Fraud Tied to Migrants
FinCEN and other U.S. regulators on Friday issued a joint advisory warning banks to be alert to payroll fraud and identity-theft schemes connected to the employment of undocumented migrants, citing more than $2.5 billion in suspicious activity reported to the bureau in 2025.
Santander Banker Arrested in Takedown of $85mn Money-Laundering Ring
An employee of Banco Santander’s Chile unit was among 18 suspects detained Tuesday as Chilean authorities moved against an alleged $85-million money-laundering network tied to the Venezuelan criminal organization Tren de Aragua.
U.S. Regulators to Consider Citizenship Status of Bank Customers a Risk Factor
President Donald Trump signed an executive order Tuesday directing federal financial regulators to treat undocumented immigrants as potential credit and compliance risks.
UK Takes Aim at Russians Who Allegedly Exploited Migrants in Ukraine War
The United Kingdom on Tuesday imposed sanctions on 35 individuals and entities accused of trafficking vulnerable migrants to fight on Russia’s front line in Ukraine and of supplying components to the Kremlin’s drone manufacturing operations, the Foreign, Commonwealth and Development Office said.
U.S. Blacklists Mexican Casinos, Businesses Said to Launder Cartel Cash
The U.S. Treasury Department on Tuesday imposed sanctions on six people and businesses it said were tied to a money laundering and cash-smuggling network operated by Cartel del Noreste, a Mexican drug trafficking group active near the U.S.-Mexico border.
Treasury Staff and Lobbyists Oppose Plan to Make Banks Verify Citizenship
Career officials at the U.S. Treasury Department are pushing back against a Trump administration effort that could require banks to verify customers’ citizenship information, as lenders warn the idea would be costly, difficult to implement, and potentially harmful to the economy.
In U.S. Migrant Crackdown, a Renewed Focus on Cross-Border Remittances
The United States is tightening its oversight of the tens of billions of dollars resident and undocumented migrants send home each year through Western Union, MoneyGram, and other money services businesses (MSBs), according to a recent U.S. Treasury Department warning.
U.S. Sanctions Mexico-Based Human Smuggling Network
The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) on Thursday blacklisted a Mexican human-smuggling ring, imposing sanctions against four individuals and 16 companies it says helped illegally migrate to the United States. The Cancun-based Bhardwaj Human Smuggling Organization has illicitly transported thousands of people from Europe, the Middle East, South America, and Asia […]