U.S. Treasury Launches Unprecedented Global Crackdown on Illicit Dollar Holdings​

In April 2025, the U.S. Treasury Department initiated a comprehensive global campaign to combat illicit U.S. dollar holdings. This initiative, under the "Global Corruption Accountability & Dollar Sanitization Act," aims to invalidate unregistered or illegally held U.S. currency, effectively rendering such assets worthless.​

Key Measures Implemented

• Serial Tracking System: A new system will trace dollar bills involved in black market or criminal transactions, leading to their invalidation.​
• Offshore Reporting Requirements: Offshore banks are mandated to report all high-value cash dollar holdings within 90 days. Non-compliance may result in U.S. sanctions and asset freezes.​
• International Collaboration: Task forces are collaborating with organizations like Interpol and the Financial Action Task Force (FATF) to identify and seize illicit U.S. cash reserves globally.​

Global Support and Implications

Countries including Germany, Mexico, and Turkey have expressed support for the initiative, with some preparing their own audits of dollar holdings. The crackdown is expected to impact criminal networks, corrupt officials with undeclared offshore accounts, and individuals holding large amounts of cash outside the formal banking system.​

This initiative marks a significant step in promoting financial transparency and combating global corruption. Entities holding undeclared U.S. dollars are urged to comply with the new regulations to avoid potential losses.​

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