In Minnesota, alongside other senior U.S. officials, U.S. Secretary of the Treasury Scott Bessent today announced several initiatives to combat the rampant fraud that has wasted billions of dollars in Minnesota. As part of the White House Task Force to Eliminate Fraud, Treasury continues to work tirelessly to protect American taxpayer dollars and restore integrity to federal benefits programs. Treasury’s Financial Crimes Enforcement Network (FinCEN) today issued an alert asking financial institutions to watch for suspicious activity involving certain cross-border payments involving U.S. money services businesses. FinCEN today also issued a notice to help financial institutions detect and report suspicious activity involving the exploitation of charities and non-profit organizations.
Resources
- Treasury Press Release
- Alert on Risks Associated with Foreign-Agent-Directed Transactions
- Notice on the Use of Charities and Non-Profit Organizations for Illicit Activity
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