In a sweeping new move, the Trump administration is targeting migrants—especially those who once had temporary legal status under former President Biden—by cutting them off from essential financial services including bank accounts and credit cards. According to documents reviewed by The New York Times and sources familiar with the plan, thousands of immigrants are being stripped of valid Social Security numbers (SSNs), which function as tax IDs and are vital for everyday financial activities in the US.
“Death master list” tactic
At the center of the policy is a controversial use of the Social Security Administration’s “death master list,” typically used to identify deceased individuals who should no longer receive benefits. Now, the administration is reportedly adding living immigrants to the list—effectively cancelling their SSNs and freezing their ability to open bank accounts, access credit cards, or receive government aid.
Leland Dudek, acting SSA commissioner, described the goal bluntly: their “financial lives would be terminated.”
Starting with criminal records
So far, over 6,300 individuals—alleged to be convicted criminals or “suspected terrorists”—have been added to the list. However, officials acknowledge that the scope may soon expand to include other migrants whose temporary protections have been rescinded.
Musk and data sharing fuel crackdown
This initiative reflects an unusual collaboration between tech magnate Elon Musk and the Department of Government Efficiency. Musk has reportedly supported Trump’s push for using personal data across agencies, including from the IRS and Treasury Department, to aid immigration enforcement.
That partnership recently resulted in top IRS resignations after it was revealed that taxpayer data would be shared with Homeland Security.
Push for ‘self-deportation’
The administration’s stated goal is to make life financially unlivable for undocumented migrants—encouraging “self-deportation.” Assistant Press Secretary Liz Huston emphasised, “By removing the monetary incentive for illegal aliens to come and stay, we will encourage them to self-deport.”
On top of that, new rules would fine migrants under deportation orders up to $998 per day for noncompliance, and allow for property seizure if they don’t pay.
Meanwhile, immigrant advocates and civil liberties groups warn that using the “death list” and IRS data to freeze migrants’ financial lives sets a dangerous precedent.