The Last Refuge By Sundance
This is very interesting. Treasury Secretary Scott Bessent has announced [Press Release Here] an operation to target money service businesses on the southern border.
The objective is to identify targeted financial transaction businesses who participate in money laundering for cartel and criminal activity.
WASHINGTON— Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) announced a multi-tiered operation targeting more than 100 U.S. money services businesses (MSBs) operating along the southwest border. These MSBs—which provide financial services outside of a formal bank—are being examined for potential non-compliance with regulations designed to detect money laundering and combat illicit finance. FinCEN’s operation resulted in the issuance of six notices of investigation, dozens of examination referrals to the Internal Revenue Service (IRS), and over 50 compliance outreach letters.
“At President Trump’s direction, the Treasury Department is utilizing all tools to stop terrorist cartels, drug traffickers, and human smugglers,” said Secretary of the Treasury Scott Bessent. “This sweeping operation will help root out potential cartel-related money laundering from the U.S. financial system.”
MSBs operating along the southwest border can face elevated exposure to illicit activity, including the laundering of proceeds from drug trafficking, smuggling of illegal aliens, and other serious crimes. This operation is consistent with President Trump’s directive to secure the border and to pursue the total elimination of Cartels and Transnational Criminal Organizations…
READ FULL ARTICLE HERE… (theconservativetreehouse.com)
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