President Donald Trump said on June 2 that “we will soon find out” if an executive order he recently signed is the "most effective means" to tackle illegal immigration.
Trump said the order, led by the Treasury Department, aims to stop banks, credit cards, and financial institutions from being used to facilitate criminal activity and the cartels who orchestrate the crimes.
The criminal activities, according to Trump, include human smuggling, drug trafficking, and illegal immigration.
“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,” Trump
wrote on Truth Social. “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.”
Trump appeared to be referring to his
May 19 executive order that uses financial regulations and banking oversight as a tool against illegal immigration, rather than traditional border enforcement measures. Instead of just focusing on mass deportations, the Trump administration has sought to make financial services more difficult for illegal immigrants or those who facilitate illegal immigration.
The president noted in his social media post that the directive is part of his administration’s efforts to end fraud and “reverse” mass illegal immigration.
The executive order
directs the Treasury secretary to issue an advisory to banks to identify red flags tied to payroll tax evasion, concealment of true account ownership, off-the-books wage payments, labor trafficking, and the use of individual taxpayer identification numbers to open accounts or obtain credit without verified legal presence in the United States.
The directive was less extensive than a
previous proposal floated by the Treasury Department requiring banks to collect clients' citizenship information.
“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,” Trump added. “This also sends a clear message to the anti-ICE rioters that your violent disruptions are only strengthening our resolve.”
Trump's comments indicate he sees financial pressure as a potentially powerful tool against illegal immigration, although he appeared to acknowledge that it is too early to judge the effectiveness of his "powerful" new executive order.
Reuters contributed to this report.
