President Donald Trump announced a sweeping new crackdown on the financial infrastructure supporting illegal immigration, revealing that his administration will move to shut down bank accounts used to facilitate illegal immigration, human smuggling, cartel activity, and even accounts used to store welfare benefits received by illegal aliens.
The Gateway Pundit reported last month that in a new executive order, the Trump administration directed the Treasury Department to increase scrutiny of financial activity tied to illegal immigration, including potential payroll tax evasion, concealed account ownership, off-the-books wage schemes, labor trafficking, and the use of Individual Taxpayer Identification Numbers (ITINs) without verified legal presence documentation.
Banks will now be pressured to strengthen customer identification requirements and think twice before handing out accounts, loans, credit cards, or any financial services to those here illegally.
In a fiery Truth Social post on Tuesday, President Trump declared that illegal immigrants and foreign fraudsters are stealing billions of dollars from American taxpayers every year and vowed that his administration would use every available tool to stop it.
Trump wrote on Truth Social:
Illegal Immigrants and Foreign Fraudsters steal BILLIONS every year from the American Taxpayer.
As part of my Administration’s Historic effort to end FRAUD and reverse MASS ILLEGAL IMMIGRATION, I recently signed a powerful new Executive Order, which will be led by the Treasury Department, to stop Banks, Credit Cards, and Financial Institutions from being used to facilitate Human Smuggling, Drug Trafficking, Illegal Immigration, and the Criminal Cartels who orchestrate these activities.
Access to our Nation’s Financial Systems must be limited to those who have a Legal Right to be here, and who are engaged in Lawful and Legitimate Commerce.
Bank Accounts being used to enable Illegal Immigration, or to store the Welfare received by Illegal Aliens, will be shut down, and funds will ultimately face Impoundment and Seizure so they can to be returned to Taxpayers. It is not ludicrous, but profoundly dangerous, that any Illegal Alien can simply present a Blue State Drivers License, or Biden Border Document, and have unrestricted access to the U.S. Financial System.
This also sends a clear message to the anti-ICE rioters that your violent disruptions are only strengthening our resolve.
My Executive Order will also allow us to stop Billions in leaving our Country in all manner of criminal activity. It has been said this measure we are taking is the most effective means of reversing Biden’s Border Invasion. We shall soon find out!
The announcement builds upon President Trump’s Executive Order, “Restoring Integrity to America’s Financial System,” which directs the Treasury Department and federal regulators to strengthen customer identification requirements, target illicit financial activity, and address financial risks associated with illegal immigration.
Treasury Secretary Scott Bessent has been tasked with leading the effort.
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Jim Hᴏft is the founder and editor of The Gateway Pundit, one of the top conservative news outlets in America. Jim was awarded the Reed Irvine Accuracy in Media Award in 2013 and is the proud recipient of the Breitbart Award for Excellence in Online Journalism from the Americans for Prosperity Foundation in May 2016.
You can email Jim Hᴏft here, and read more of Jim Hᴏft’s articles here.
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