Treasury Continues to Follow the Money in Minnesota to Eliminate Fraud

Renews Order Requiring Enhanced Reporting When Money is Transferred Outside of the United StatesWASHINGTON—Today, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) renewed its Geographic Targeting Order (GTO) designed to combat fraud in Minnesota and protect U.S. taxpayers. Extensive schemes have fraudulently diverted state and Federal dollars meant for people who lack housing, are food insecure, have disabilities, or are otherwise eligible to receive government benefits, costing the state of Minnesota potentially billions of dollars, a portion of which has been laundered overseas. The renewed GTO will continue to help law enforcement identify when the proceeds of fraud are sent abroad and act quickly to hold fraudsters accountable and recover taxpayer dollars. “Treasury promised to follow the money, and that is exactly what we are doing,” said Secretary of the Treasury Scott Bessent.