The Financial Crimes Enforcement Network (FinCEN) issued an alert warning that illegal aliens in the United States may use cross-border funds transfers, including remittances, to move illicitly obtained funds, and called on money services businesses (MSBs) to be vigilant in identifying and reporting related suspicious activity. The alert references Executive Order 14159 and reiterates that MSBs are generally required to file a suspicious activity report (SAR) for transactions of at least USD 2,000 when they know, suspect, or have reason to suspect the transaction is relevant to a possible violation of law or regulation. FinCEN highlights that this includes cross-border transfers of funds derived from unlawful employment or otherwise derived from funds the MSB knows, suspects, or has reason to suspect were illicitly obtained in the United States.
Financial Crimes Enforcement Network 2025-11-28
Financial Crimes Enforcement Network issues alert urging money services businesses to flag cross-border transfers involving illegal aliens
FinCEN issued an alert warning that illegal aliens in the U.S. may use cross-border funds transfers to move illicitly obtained funds. Money services businesses (MSBs) are urged to be vigilant and report suspicious activities, particularly transactions of at least USD 2,000 involving unlawful employment or illicit funds. The alert references Executive Order 14159 and emphasizes the requirement for MSBs to file suspicious activity reports (SARs).