Separately Announces Framework to Pay Whistleblowers for Tips
WASHINGTON—Today, in support of President Trump’s pledge to combat fraud, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued an Advisory urging financial institutions to be vigilant about fraud schemes targeting government health care benefit programs such as Medicare and Medicaid. This follows Secretary of the Treasury Scott Bessent’s trip to Minnesota earlier this year, where he announced numerous steps that Treasury is implementing to detect and stop government benefits fraud across the country. Separately today, FinCEN issued a proposed rule paving the way to pay whistleblowers for actionable tips, further protecting the U.S. financial system from illicit activity.
“President Trump has been clear that Americans have a right to know that their tax dollars are not being used to commit fraud,” said Secretary of the Treasury Scott Bessent. “Under President Trump’s leadership, Treasury will continue to find and disrupt fraud schemes wherever they exist, and we will work with our law enforcement partners to hold perpetrators to account.”
FinCEN’s Advisory provides financial institutions with an overview of how fraudsters, organized crime groups, and increasingly, transnational criminal organizations (TCOs), are targeting government health care benefit programs. It also highlights money laundering typologies and red flag indicators to help financial institutions identify and...
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