$8 billion in cross-border wire payments sent from 2021 to 2025 through U.S. money services businesses were flagged by FinCEN as potentially directed by foreign agents.
Treasury paired the finding with new guidance telling banks to scrutinize nonprofits’ donors, funding streams and ties to other groups or governments for possible money laundering or terrorist-financing risks.
Treasury said it has already stopped nearly $190 million tied to overseas fraud, returned more than $100 million to U.S. victims, and is supporting FBI search warrants and a broader indictment effort.
Minnesota framed the announcement: officials tied the crackdown to wider nonprofit-fraud concerns after the Feeding Our Future case, in which a co-conspirator was sentenced this week to 30 years over a $49 million scheme.
The move extends a broader Trump administration push on nonprofit oversight after the IRS tightened tax-exempt reporting in April and as a separate DOJ probe examines funding networks linked to Neville Roy Singham.