FinCEN unveils new measures to combat large-scale Govt benefits and payment fraud in Minnesota, targeting shell companies, false claims, and complex laundering networks exploiting public funds

Secretary of the Treasury Scott Bessent unveiled initiatives aimed at combating what officials describe as rampant government benefits fraud in Minnesota that has allegedly diverted billions in taxpayer funds, with measures designed to strengthen financial system integrity and protect taxpayers. These include targeted reporting requirements on transactions leaving the U.S., FinCEN investigations of money services businesses, fraud-related alerts to financial institutions, and training for law-enforcement partners to better use financial data in investigations…