The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) is seeking assistance from financial institutions as it combats fraud schemes that target Medicare, Medicaid and other government health benefit programs.
The agency issued an advisory that highlights these schemes and encourages financial institutions to voluntarily report suspicious activity to FinCEN and law enforcement, and issued a proposed rule that would pay eligible whistleblowers who provide FinCEN with information about potential violations, the Treasury Department said in a Monday (March 30) press release.
“President Trump has been clear that Americans have a right to know that their tax dollars are not being used to commit fraud,” Treasury Secretary Scott Bessent said in the release. “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.”
In its advisory, FinCEN highlights how transnational criminal organizations exploit federal and state health care benefit programs by filing fraudulent claims for reimbursement. In some cases, these schemes are facilitated by complicit insiders at financial institutions, according to the release.
The proposed rule to compensate whistleblowers would apply to actionable tips related to fraud, money laundering, sanctions violations and certain other national security laws. The agency proposes procedures for this...
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