An illegal immigrant from Honduras has been sentenced to eight years in federal prison for his role in an $89 million payroll fraud scheme that […] Source
U.S. financial institutions reported $2.5 billion in suspicious activity in 2025, linked to alleged payroll schemes.
The Treasury Department has issued a new advisory urging banks to report payroll fraud schemes tied to illegal immigrant labor, citing significant financial and social consequences.
The Treasury Department has issued a new advisory urging banks to report payroll fraud schemes tied to illegal immigrant labor , citing significant financial and social consequences. PULSE POINTS WHAT HAPPENED: The Treasury Department has issued an advisory to financial institutions, highlighting red flags for payroll fraud schemes that exploit illegal immigrant labor, urging banks to report suspicious activity to Immigration and Customs Enforcement (ICE ). These schemes often involve shell companies and labor brokers who use stolen or fraudulent identities to evade payroll taxes and exploit unauthorized workers. DETAIL: Treasury said banks reported more than $2.5 billion in suspicious activity linked to payroll tax fraud schemes in…Open