The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) has renewed its Geographic Targeting Order (GTO) in Minnesota to combat extensive fraud that has diverted billions in state and federal aid intended for vulnerable populations.
This renewed GTO requires banks and money transmitters in Hennepin and Ramsey Counties to report additional information on funds transfers of $3,000 or more sent to beneficiaries, recipients, or banks outside the United States. The measure aims to help law enforcement identify when fraud proceeds are sent abroad, enabling quicker action to hold fraudsters accountable and recover taxpayer dollars.
Secretary of the Treasury Scott Bessent affirmed the Treasury's commitment, saying, "Treasury promised to follow the money, and that is exactly what we are doing." He added, "We will continue to give law enforcement critical tools to trace criminal networks that siphon taxpayer dollars and move them overseas. The Trump Administration will not allow criminals to profit from programs intended to help vulnerable Americans." The order, which incorporates an exemption for a subset of banks issued in February 2026, is effective for 180 days after its publication on the Federal Register.