Dossier
payroll schemes
Coverage of payroll schemes in the Nexus archive.
- Feds warn US banks about risks tied to undocumented immigrant workforce
U.S. federal authorities warned financial institutions about risks associated with the undocumented immigrant workforce, following reports of $2.5 billion in suspicious activity linked to payroll schemes in 2025.
- Treasury warns banks of 'red flags' tied to customers in the US illegally
The U.S. Treasury's Financial Crimes Enforcement Network (FinCEN) has issued an advisory to banks to identify red flags related to payroll schemes involving unauthorized workers, following an executive order by President Donald Trump. The advisory highlights concerns about identity theft, payroll tax fraud, and money laundering, while noting banks were able to avoid mandatory collection of citizenship information.