US Treasury Asks Banks to Monitor Unlawful Employment
The Treasury Department and federal regulators have issued an advisory for banks to detect identity theft and payroll fraud involving unauthorized workers. Financial institutions are asked to monitor 18 red-flag indicators linked to labor brokers and complicit employers in sectors like agriculture.
The United States Treasury Department directed banks on Friday afternoon to monitor and report 18 red-flag indicators of payroll fraud and identity theft linked to unauthorized workers. The advisory follows an executive order issued last month by President Donald Trump to increase scrutiny of non-citizen banking activities. The move expands federal oversight of financial transactions to disrupt labor brokers and complicit employer schemes in high-risk industries.
