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FinCEN Targets Human Smuggling Across Southwest Border

By Benjamin Hardy

Financial institutions should watch for irregular cash deposits, multiple, inexplicable wire transfers and other red flags that may indicate links to human smugglers along the U.S. border with Mexico, the Treasury Department's Financial Crimes Enforcement Network recommended. Illegal transportation of migrants across the Southwest border is nothing new, but FinCEN noted in a 10-page advisory Friday that the scale of such operations has risen dramatically for three consecutive years, from fewer than 500,000 "encounters" in fiscal year 2020, to 1.7 million over the next 12 months to more than 2.3 million encounters last fiscal year. "Illicit actors seeking to make...

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