Reports of possible transactions for human smuggling through money-transfer businesses and banks fell by over 60% in 2025, according to a US Treasury report.
The number of US-flagged suspicious transfers, mainly in the US and Latin America, dropped to 11,018 in the first year of Trump’s second administration, as new restrictions deterred migration. Official migrant encounters on the US southern border fell by roughly 90%, as the government limited access to the asylum system, rolled back protections for immigrants in court proceedings and sped up deportations.
Even so, attempted or completed transfers of suspected smuggling-related funds reached over $4.9 billion from 2023 to 2025, according to the Treasury’s Financial Crimes Enforcement Network report released on Thursday.
Much of the smuggling-linked money came from US cities, including Houston, Dallas and Los Angeles. Among the reasons transactions may have been flagged include a lack of a relationship between sender and receiver, or if funds were sent to destinations along key migration routes.
The bulk of the suspicious funds were reported by banks, including for ATM withdrawals near the US southern border. In one instance, about $30,000 in purchases from a company that sells thermal binoculars, which could aid in smuggling, were flagged by a bank. Money-transfer firms, however, accounted for 97% of the suspicious transfers, which averaged $7,961 per filing.
As a result of the US crackdown, smugglers and migrants are taking bigger risks in an attempt to evade detection. In May, six migrants were found dead inside a sweltering train car near Laredo, Texas. Officials have also taken note of seaborne smuggling attempts due to challenging land crossings.
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