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INSIGHT: US banks left guessing over scope of looming order on citizenship data

Premium April 30, 2026

SCAMS: U.S. Treasury Secretary Scott Bessent said: “Americans lose hundreds of billions of dollars to fraud each year. At Treasury, we know financial institutions are often the first to see suspicious activity in real time. They need the tools to act quickly and share information that can help stop fraud before it spreads.”

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NEWS: Most dangerous criminal networks show remarked resilience despite targeted actions, Europol says

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NEWS: Social media sites being ‘abused’ for terrorist financing, warns FATF

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NEWS: Sweden announces ‘major changes’ to AML reporting from 1 January 2027

By Pete Schroeder, Tatiana Bautzer and Michelle Price

U.S. banks say they are largely in the dark about an expected White House order requiring them to collect data on their customers’ citizenship or immigration status, a directive senior industry executives warn would be costly and disruptive.

Treasury Secretary Scott Bessent told media outlet Semafor this month that the administration is working on the executive order, but did not provide details. It was first reported in February by the Wall Street Journal, which characterized the effort as an extension of the administration’s crackdown on immigrants living in the United States illegally.

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Premium

NEWS: Most dangerous criminal networks show remarked resilience despite targeted actions, Europol says

 Premium

NEWS: Social media sites being ‘abused’ for terrorist financing, warns FATF

 Premium

NEWS: Sweden announces ‘major changes’ to AML reporting from 1 January 2027

Regulatory Watch News

  • Two Illegal Aliens Sentenced in International ATM “Jackpotting” Conspiracy with Ties to Tren de Aragua

    US Department of Justice

    Carlos Javier Padron, 36, an illegal alien from Venezuela, was sentenced yesterday to 78 months in prison for his role in a conspiracy to deploy malware and steal millions of dollars from ATMs in the United States, a crime commonly referred to as “ATM jackpotting.” His co-defendant, Oddry Arnoldo Cabrera Torrealba, also known as “Luis Alejandro Berdugo Barraza,” 37, an illegal alien from Venezuela, was sentenced on June 11, to 78 months in prison for similar conduct. “Carlos Javier Padron and Oddry Arnoldo Cabrera Torrealba helped deploy sophisticated malware as part of a transnational criminal network that hacked ATMs across the United States and stole millions of dollars through a technique known as ATM jackpotting – which caused bank ATMs to dispense the cash inside of them,” said Assistant Attorney General A. Tysen Duva of the Justice Department’s Criminal Division. “Crimes like this undermine the security of our financial institutions and fuel the operations of violent transnational criminal organizations such as Tren de Aragua (TdA). This sweeping investigation with the District of Nebraska and our law enforcement partners has disrupted this network at all levels. We will protect our financial institutions from technology enabled fraud.”

  • Treasury Sanctions Networks Fueling Sudan’s Civil War and Worsening Humanitarian Crisis

    OFAC

    WASHINGTON—Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) imposed sanctions on eight individuals and entities linked to procurement and recruitment networks that continue to fuel Sudan’s devastating civil war between the Sudanese Armed Forces (SAF) and the paramilitary group, the Rapid Support Forces (RSF).  These networks have enabled both sides to expand the scale and intensity of the conflict, contributing to one of the world’s worst humanitarian crises and further destabilizing an already fragile region.  The ongoing violence has also created conditions that allow for terrorist groups to grow, posing threats to the security and interests of the United States.

  • Update to UK Sanctions List: Libya Regime

    UK Government

    Today, Friday 26 June, the UK Government has revoked the following entity under the Libya sanctions regime. Revoked Entity:

    Name: Unique ID:
    LIBYAN ARAB AFRICAN INVESTMENT COMPANY LIB0001
     

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