Treasury to Scrutinize Somalia Money as Trump Slams Nation (1)

Treasury Secretary Scott Bessent said his department will enhance scrutiny of funds heading to Somalia outside of the traditional banking system, potentially stepping up pressure on a nation President Donald Trump has regularly disparaged.

Bessent said in a post on X that the Treasury will require so-called money services businesses (MSBs) to report more information to the Financial Crimes Enforcement Network, which will be in turn used by law enforcement to investigate money being sent to areas of concern, such as Somalia.

Scott Bessent

Photographer: Alex Wong/Getty Images

Trump on Tuesday said Bessent “is in charge of the investigation of Somalia,” referring to allegations of ...