President Donald Trump said his administration will move to restrict access to the U.S. financial system for accounts linked to illegal immigration, smuggling, cartel activity and welfare funds received by illegal aliens.
By yourNEWS Media Newsroom
President Donald Trump has ordered the Treasury Department to lead a new federal effort targeting financial activity tied to illegal immigration, human smuggling, cartel operations and suspected fraud involving public benefits.
The directive was issued through an executive order titled “Restoring Integrity to America’s Financial System,” which instructs the Treasury Department and federal regulators to increase scrutiny of financial accounts and transactions connected to illegal immigration and related criminal activity.
The order directs federal officials to examine potential payroll tax evasion, hidden account ownership, off-the-books wage arrangements, labor trafficking and the use of Individual Taxpayer Identification Numbers without verified documentation of legal presence. It also places new pressure on banks and other financial institutions to strengthen customer identification procedures before providing accounts, loans, credit cards or other financial services.
Treasury Secretary Scott Bessent has been assigned to lead the effort.
Trump announced the move Tuesday in a Truth Social post, saying his administration intends to use the financial system as part of its broader immigration enforcement agenda.
“Illegal Immigrants and Foreign Fraudsters steal BILLIONS every year from the American Taxpayer.
As part of my Administration’s Historic effort to end FRAUD and reverse MASS ILLEGAL IMMIGRATION, I recently signed a powerful new Executive Order, which will be led by the Treasury Department, to stop Banks, Credit Cards, and Financial Institutions from being used to facilitate Human Smuggling, Drug Trafficking, Illegal Immigration, and the Criminal Cartels who orchestrate these activities.
Access to our Nation’s Financial Systems must be limited to those who have a Legal Right to be here, and who are engaged in Lawful and Legitimate Commerce.
Bank Accounts being used to enable Illegal Immigration, or to store the Welfare received by Illegal Aliens, will be shut down, and funds will ultimately face Impoundment and Seizure so they can to be returned to Taxpayers. It is not ludicrous, but profoundly dangerous, that any Illegal Alien can simply present a Blue State Drivers License, or Biden Border Document, and have unrestricted access to the U.S. Financial System.
This also sends a clear message to the anti-ICE rioters that your violent disruptions are only strengthening our resolve.
My Executive Order will also allow us to stop Billions in leaving our Country in all manner of criminal activity. It has been said this measure we are taking is the most effective means of reversing Biden’s Border Invasion. We shall soon find out!”
The administration said the order is intended to prevent banks, credit card companies and other financial institutions from being used to facilitate illegal immigration, human smuggling, drug trafficking and cartel-backed operations.
Under the policy, accounts identified as being used to enable illegal immigration or hold welfare benefits received by illegal aliens could be closed, with funds ultimately subject to impoundment and seizure for return to taxpayers, according to Trump’s statement.
The order also targets financial risks associated with the use of state-issued driver’s licenses or immigration-related documents as access points into the U.S. banking system. Trump said financial access should be limited to people legally present in the country and engaged in lawful commerce.
The move marks an expansion of the administration’s immigration enforcement strategy beyond border operations and deportations, placing financial institutions at the center of a broader crackdown on networks accused of supporting illegal immigration.
The Treasury Department is expected to coordinate with federal regulators on stricter identification standards and enforcement actions aimed at financial activity connected to smuggling, labor exploitation, benefit fraud and cartel-linked operations.