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reasury Secretary Scott Bessent announced Friday that his department is tightening international bank-reporting rules for two Minnesota counties to fight what he called “egregious, unchecked fraud” involving ill-gotten government benefits flowing to Somalia and other countries.

The Treasury’s Financial Crimes Enforcement Network (FinCEN) will now require banks and other financial institutions in Hennepin and Ramsey Counties — which encompass Minneapolis and St. Paul — to report overseas transfers exceeding $3,000, down from the standard $10,000 reporting limit.

“This will put a microscope on these businesses, advance prosecutions and assist in the recovery of funds laundered internationally,” Bessent said during a visit to the Gopher State.

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The Treasury secretary added that “Minnesota is going to be the genesis for a national rollout” for tracking fraud — noting a similar mechanism was used along the southern border to trace Mexican drug cartel funds.

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Other federal agencies have poured resources into Minnesota after the fraud scandal was highlighted by President Trump — with the Justice Department surging prosecutors and the Department of Homeland Security boosting immigration raids.

Vice President JD Vance announced Thursday that the Justice Department is creating a new assistant attorney general role to focus on fraud and the Department of Health and Human Services this week froze funding for social services in Minnesota and four other Democrat-led states pending review.

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Trump has heightened national attention on Minnesota fraud — prompting Walz to end his re-election bid Monday.

“Somalians ripped off that state for billions of dollars — billions. Every year, billions of dollars and they contribute nothing. The welfare is like 88%. They contribute nothing,” the president said at a Dec. 2 Cabinet meeting.

“I don’t want them in our country. I’ll be honest with you, OK? Somebody would say, ‘Oh, that’s not politically correct.’ I don’t care. I don’t want them in our country. Their country is no good for a reason. Their country stinks and we don’t want them in our country.”

and

Vance announces assistant attorney general focused on fraud

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“These deep-rooted fraud schemes rob American taxpayers, often while local officials fail to intervene. The problems in Minnesota are massive – but other states are on our radar too,” she wrote.