Treasury Department empowers banks to combat cartels, fraud with sweeping new data-sharing powers

Treasury Department empowers banks to combat cartels, fraud with sweeping new data-sharing powers

Treasury authorized banks to share surveillance and cyber data with federal agents; a May executive order mandates immigration-status inclusion in KYC checks; Minnesota transfers >$3,000 require reporting. For crypto MSBs and fintech platforms, expanded public-private surveillance integration with blockchain analytics raises compliance burden on on-ramps/off-ramps, signaling a regulatory pivot toward cartel-financing enforcement.