Scott Bessent announced a new Treasury Department border operation aimed at disrupting money laundering tied to terrorists, drug cartels, smugglers, and human traffickers, outlining a data-driven effort focused on financial institutions operating along the southwest border.
Bessent said the initiative was launched at the direction of President Donald Trump and is designed to use advanced technology and financial intelligence to identify and act against illicit activity within the U.S. financial system.
“At President Trump’s direction, the Treasury Department is utilizing all tools to stop terrorists, cartels, drug smugglers and human traffickers,” Bessent said.
He said the new operation centers on identifying cartel-related money laundering through targeted enforcement actions led by the Treasury’s Financial Crimes Enforcement Network.
“In line with that effort, I’m announcing a new data driven border operation to help root out potential cartel related money laundering from the US financial system,” Bessent said.
Bessent said FinCEN is focusing on money service businesses operating outside traditional banking systems, particularly those located along the southwest border.
“Treasury’s Financial Crimes Enforcement Network, known as FinCEN, is targeting over 100 money service businesses along the southwest border,” Bessent said.
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He detailed specific enforcement measures being taken as part of the operation.
“Specifically, FinCEN is issuing six notices of investigation, dozens of examination referrals to the IRS, and over 50 compliance outreach letters,” Bessent said.
Bessent said these businesses face heightened exposure to criminal activity because of the nature of their services and geographic location.
“These businesses which provide financial services outside of a formal bank, face elevated exposure to illicit activity, including money laundering related to drug smuggling and human trafficking,” Bessent said.
He credited Treasury’s modernization efforts for enabling the new approach, saying improved technology allows authorities to identify and act on suspicious activity more effectively.
“Thanks to Treasury’s push for technology modernization, we are now able to implement data driven approaches to identify potential bad actors and when malicious activity is identified, make no mistake, we can and will take action to keep Americans safe,” Bessent said.
Bessent said the effort aligns with President Trump’s broader border security agenda and his stated priorities on fentanyl trafficking and cartel activity.
“President Trump has made clear his commitment to securing our border, stopping the flow of deadly fentanyl and eliminating Mexico based drug cartels to protect Americans,” Bessent said.
He said the Treasury Department will continue expanding its use of technology and enforcement tools to combat financial crimes tied to border security.
“Treasury will continue to use expand advanced technology and every resource at its disposal to combat money laundering and make America safe again,” Bessent said.
WATCH:
🚨 BREAKING: Sec. Scott Bessent enacts MAJOR FAFO on the finances of terrorist cartels, drug traffickers, and human smugglers
A MASSIVE investigation has been launched along the southern border into more than 100 money service businesses
GOOD! 🔥
BESSENT: “This sweeping… pic.twitter.com/R9O2alfU5V
— Eric Daugherty (@EricLDaugh) December 22, 2025
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