NEWS: Trump order flags immigration status as AML risk factor — but drops plan for banks to collect citizenship data – AML Intelligence
Compliance, Regulatory, US
PEPs: Trump claimed in a CNBC interview on Tuesday that he personally was discriminated against by banks, asserting without evidence that JPMorgan Chase and Bank of America refused to take his deposits following his first term in office.
By Nupur Anand, Tatiana Bautzer and Chandni Shah
NON-citizens in the U.S. will face greater scrutiny on their banking activities following an executive order by President Donald Trump, but the directive was less extensive than a previous proposal floated by Treasury requiring banks to collect clients’ citizenship information.
The Trump administration has proposed a number of policies that have sideswiped banks, including the idea floated earlier in the year to collect citizenship data. In January, Trump also blindsided the industry by providers to cap interest rates in a bid to address cost-of-living concerns, and he has for discriminating against conservatives, a claim they deny.
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OFAC
WASHINGTON—Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) sanctioned more than a dozen individuals and entities, comprising two distinct networks, linked to the terrorist Sinaloa Cartel and its fentanyl trafficking activities. Armando de Jesus Ojeda Aviles (Ojeda Aviles) leads a network involved in laundering the proceeds of fentanyl and other narcotics trafficking activities on behalf of the Sinaloa Cartel. Jesus Gonzalez Penuelas (Gonzalez Penuelas), a fugitive from justice, heads a longstanding organization involved in trafficking illicit drugs into the United States and laundering funds for the Sinaloa Cartel. The violent Sinaloa Cartel is a U.S.-designated Foreign Terrorist Organization (FTO) responsible for a significant portion of the illicit fentanyl trafficked into the United States that kills tens of thousands of Americans each year.
OFAC
WASHINGTON—Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is taking action against four individuals associated with the pro-Hamas flotilla organized by the U.S.-designated Popular Conference for Palestinians Abroad (PCPA) that is attempting to access Gaza in support of Hamas. OFAC is also taking action against key actors operating within Hamas-aligned Muslim Brotherhood networks. Hamas relies on a diverse web of international partners to expand its malign political influence, facilitate violent terrorist activity, and undermine international efforts to achieve lasting peace in Gaza.
OFSI
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