Trump Signs Order Aimed At Preventing Illicit Financial Activity

United States financial system posed by foreign consular identification cards. ”

The order describes “red flags and typologies” associated with suspicious activity

Among these are repetitive cash withdrawals, the use of shell companies to conceal true account ownership, and the use of certain platforms for “off-the-books” wage payments.

The “red flags” also encompass the use of an individual taxpayer identification number (ITIN) in place of a Social Security number when opening an account or performing specific banking transactions. This number is accessible to all, irrespective of their immigration status, and is used to file and pay taxes.

Even for legitimate reasons, the move could exacerbate the challenges faced by non citizens, particularly undocumented immigrants, in obtaining financial services

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