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WASHINGTON – The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) today launched a new webpage dedicated to receiving confidential tips from whistleblowers regarding fraud, money laundering, and violations of U.S. Sanctions. The move, announced February 13, 2026, signals a heightened focus on combating financial crimes and follows recent scrutiny of government benefits fraud schemes, particularly in Minnesota.
The new portal provides a secure channel for individuals to submit information related to violations of the Bank Secrecy Act (BSA), U.S. Sanctions programs, and other laws designed to protect the U.S. Financial system and national security. FinCEN’s Office of the Whistleblower will review submissions, and those providing information that leads to a successful enforcement action may be eligible for financial rewards.
Treasury Secretary Scott Bessent, while in Minnesota supporting President Trump’s efforts to address government benefits fraud, announced the potential for whistleblower payments. He emphasized the importance of following the money trail, drawing parallels to past successes in combating organized crime, stating, “We did it with the mafia, we have done it with the cartels, and we’re doing it with the Somali fraudsters.”
The Bank Secrecy Act, originally enacted in 1970, requires financial institutions to maintain records of cash transactions, report transactions exceeding $10,000, and file reports on suspicious activity that could indicate money laundering or other criminal activity. The BSA is codified in several sections of U.S. Code, including 12 U.S.C. 1829b and 31 U.S.C. 5311-5336 according to FinCEN.
What Information is FinCEN Seeking?
FinCEN is specifically seeking detailed and specific documentation to support claims of wrongdoing. Whistleblowers are encouraged to submit information as soon as possible. The agency’s focus extends beyond traditional financial institutions to include Money Services Businesses (MSBs) and other entities potentially involved in illicit financial flows. Recent actions by FinCEN, including targeting Mexican casinos linked to drug cartel money laundering as reported by Compliance Week, demonstrate an escalating enforcement posture.
The launch of the whistleblower portal comes amid a broader effort by the Trump administration to crack down on fraud and abuse of government programs. In addition to investigating MSBs and enhancing reporting requirements, Treasury is also working to alert financial institutions to potential fraud rings exploiting child nutrition programs and training law enforcement to better utilize financial data.
Increased Scrutiny of Non-Bank Financial Institutions
The IRS is also preparing to launch a dedicated task force focused on the misuse of funding by 501(c)(3) tax-exempt entities. This coordinated effort across multiple agencies underscores the administration’s commitment to safeguarding taxpayer dollars and disrupting illicit financial networks. Hogan Lovells notes that these late-2025 and early-2026 actions signal heightened Bank Secrecy Act and anti-money laundering enforcement, increasing compliance risk for MSBs and financial institutions.
FinCEN’s actions also follow a recent analysis revealing approximately $9 billion of potential shadow-banking flows tied to Iranian networks in 2024, highlighting the ongoing challenges of combating illicit finance according to Compliance Week.
The agency is encouraging anyone with knowledge of potential violations to reach forward, emphasizing that their information could be crucial in disrupting criminal activity and protecting the integrity of the U.S. Financial system.
What’s Next: The effectiveness of FinCEN’s new whistleblower program will depend on the volume and quality of tips received, as well as the agency’s ability to investigate and prosecute violations. The coming months will likely reveal whether this initiative will significantly enhance efforts to combat financial crime and hold perpetrators accountable.
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