Treasury issues investigation notices to Minnesota money‑services businesses

True

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enforcement

Notices of investigation are issued to the named money services businesses in Minnesota as described.

Source summary
Treasury Secretary Scott Bessent announced a set of federal actions aimed at dismantling a large fraud scheme tied to Somali-organized activity in Minnesota. The Treasury has issued notices of investigation to money services businesses, implemented a Geographic Targeting Order to increase reporting on certain international transactions, released alerts about fraud in child nutrition programs, provided law enforcement financial-data training, and said the IRS has begun audits of banks suspected of laundering proceeds. Bessent also announced a task force to probe misuse of pandemic-era tax incentives and 501(c)(3) status, offered whistleblower incentives, and criticized Minnesota state leadership while saying the work could be a model for national rollout.
Latest fact check

The U.S. Treasury Department’s January 9, 2026 press release states that its Financial Crimes Enforcement Network (FinCEN) “has issued four notices of investigation to money services businesses located in Minnesota” for examination and investigative purposes under the Bank Secrecy Act. FinCEN’s own release repeats that it “has issued four notices of investigation to money services businesses located in Minnesota,” confirming the action and the type of entities involved. Independent coverage by the American Bankers Association likewise reports that FinCEN issued four notices of investigation to money services businesses in Minnesota. Verdict: True, because multiple official Treasury/FinCEN documents and corroborating industry reporting directly confirm that Treasury, via FinCEN, issued notices of investigation to multiple money services businesses operating in Minnesota, matching the claim.

Timeline

  1. Update · Jan 14, 2026, 08:51 AMTrue
    The U.S. Treasury Department’s January 9, 2026 press release states that its Financial Crimes Enforcement Network (FinCEN) “has issued four notices of investigation to money services businesses located in Minnesota” for examination and investigative purposes under the Bank Secrecy Act. FinCEN’s own release repeats that it “has issued four notices of investigation to money services businesses located in Minnesota,” confirming the action and the type of entities involved. Independent coverage by the American Bankers Association likewise reports that FinCEN issued four notices of investigation to money services businesses in Minnesota. Verdict: True, because multiple official Treasury/FinCEN documents and corroborating industry reporting directly confirm that Treasury, via FinCEN, issued notices of investigation to multiple money services businesses operating in Minnesota, matching the claim.
  2. Original article · Jan 13, 2026

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