ALEXANDRIA, Va.–NCUA has joined the U.S. Department of the Treasury’s Financial Crimes Enforcement Network, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of Currency in issuing an advisory urging financial institutions to be vigilant against risks presented by the unlawful employment of illegal aliens in the United States.
“The advisory, developed in coordination with the Internal Revenue Service, advises credit unions and banks to detect and report criminal activities involving the unlawful employment of illegal aliens,” NCUA said in a statement. “Such activities may depress wages, facilitate identity theft, give employers unfair advantages over legitimate U.S. businesses, and cause other harm to the financial system.”
Where to Get More Information
The agencies said credit unions and banks are advised to report suspicious activity and use enhanced due diligence. Additional information is here.
The agencies said the advisory supports Executive Order 14406, Restoring Integrity to America’s Financial System.
