The Trump administration uncovered what it says is more than $8 billion in potentially fraudulent cross-border wire payments that were made under foreign agents’ direction, issuing new guidelines for nonprofits who take foreign money, executing multiple FBI search warrants and building out a large-scale indictment.The Financial Crimes Enforcement Network (FinCEN) within the Treasury Department said it identified suspicious wire payments from 2021 to 2025 that were sent through U.S.-based money services businesses at the direction of foreign agents."When greed meets negligence, the American people suffer," Treasury Secretary Scott Bessent said in a statement to Fox News Digital."Under President Trump and Vice President Vance’s leadership, Treasury stopped nearly $190 million in funds tied to overseas fraud and returned more than $100 million to U.S.
victims. "We are working with the White House Task Force to Eliminate Fraud to help prevent this kind of abuse from happening again, in Minnesota or anywhere else."WHITE HOUSE LAUNCHES INTERACTIVE MAP TRACKING BILLIONS IN SUSPECTED FRAUDTreasury Secretary Scott Bessent announced additional crackdowns in Minnesota as the department investigates sweeping fraud claims.(Al Drago/Getty Images)Bessent, FBI Director Kash Patel, Centers for Medicare & Medicaid Services Administrator Dr.
Mehmet Oz and Federal Trade Commission Chairman Andrew Ferguson held a news conference in Minnesota to detail the substantial fraud uncovered and FBI Minnesota's actions.The Treasury Department issued a notice urging banks to scrutinize nonprofits’ donors, funding streams and ties to other groups and governments.FinCEN says the arrangements could obscure the ultimate recipients and potentially be exploited for money laundering or terrorist financing.WATCHDOG UNLEASHES DATABASE TO EXPOSE 'LOOPHOLES' AS $5B IN FOREIGN CASH FLOODS US NONPROFITSThe notice noted that bad actors commit fraud in three forms of abuse: sham charities allegedl...