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FinCEN Targets Undocumented Migrants in Latest Advisory

A recent alert by the U.S. financial intelligence unit urging money services businesses to treat remittances from undocumented immigrants as suspicious appears to counter earlier guidance and could expose migrants to detention or deportation, analysts say. The Financial Crimes Enforcement Network, or FinCEN, in a two-page alert Friday encouraged MSBs to be "vigilant" in identifying and reporting suspicious activity connected to cross-border transfers involving individuals without legal status, including payments tied to unlawful employment. While FinCEN noted that the alert aligns with the administration's stated goal of tackling human smuggling and trafficking networks, it risks creating a repository of information...

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