Treasury Targets Somali-Linked Fraud in Minnesota Amid Terrorist Financing Concerns

The U.S. Treasury has launched an enforcement campaign targeting Somali-linked fraud networks in Minnesota, unveiling enhanced financial surveillance, overseas remittance restrictions, and multiple federal investigations amid mounting concerns that stolen taxpayer funds may have been laundered abroad and potentially diverted to terrorist groups. Treasury Secretary Scott Bessent, speaking at a press conference in Minneapolis on Jan. 9, said the administration is moving aggressively to recover funds, hold perpetrators accountable, and prevent federal aid from being exploited by what he described as organized fraud rings operating through Minnesota’s social services and financial systems. “I am optimistic that we are going to put an end to this waste, fraud, and abuse,” Bessent said, expressing hope that “we are going to have recoveries for the American people, and that we are going to hold people accountable, set an example, and make sure that federal aid gets to the people it was intended for—not to these fraudsters.”...