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President Donald Trump said in the Oval Office on Tuesday that in two weeks his administration will begin selling green cards rebranded as “gold cards” to parties willing to pay $5 million up front for them, along with an eventual path to U.S. citizenship.

Trump, who was joined by Commerce Secretary Howard Lutnick, did not discuss the technical aspects of the program, news of which first appeared in Bloomberg, but said the cards would replace the current system of granting EB-5 visas to immigrants who pledge to invest in the U.S. over a longer timeframe. Lutnick suggested Tuesday that applicants for gold cards would instead pay their $5 million directly to the U.S. government, Bloomberg reported.

The Financial Action Task Force and advocacy groups have long warned that corrupt officials and other criminals use residency-by-investment and citizenship-by-investment programs to move and launder funds across borders.

“Granting citizenship and residency to wealthy investors through ‘golden’ passport and visa programs can potentially lead to economic growth,” FATF noted in November 2023. “But they can and are being exploited by criminals and the corrupt, who want to launder their money hide their identity and assets, or carry out further crimes.”