Treasury Secretary Scott Bessent continues on two domestic financial approaches to block banking services for illegal aliens and simultaneously target use of the financial system by those engaged in fraud of the U.S. government.
Secretary Bessent has extended the Geographic Targeting Order (GTO) within Minnesota that covers two counties, Hennepin and Ramsey.
All financial transactions over a $3,000 limit are subject to increased reporting requirements and scrutiny from the U.S. treasury. {citation}
The measure is intended to identify any person who attempts to transfer funds obtained by fraud who operate in the region to take advantage of HHS funding programs. “Treasury promised to follow the money, and that is exactly what we are doing,” said Secretary of the Treasury Scott Bessent. “We will continue to give law enforcement critical tools to trace criminal networks that siphon taxpayer dollars and move them overseas. The Trump Administration will not allow criminals to profit from programs intended to help vulnerable Americans.”
Bessent is now giving banks and payroll companies additional guidelines and rules to ensure that illegal aliens are not exploiting the U.S. banking system. Bessent is following a path that is predicted to eventually require banks to verify legal citizenship or legal status. The guidelines are the first steps toward that process.
Bessent Extends ‘Geographic Targeting Order’ Restricting Financial Transactions in Minnesota
