Bessent Boosts Minnesota Scrutiny With Money Services Probe (1)

The Trump administration is launching an investigation into money services businesses in Minnesota as part of a probe into fraud and alleged money laundering in the state, Treasury Secretary Scott Bessent said Friday.

Bessent said the Treasury’s Financial Crimes Enforcement Network, or FinCEN, would lead an investigation into at least four money services businesses, which facilitate wire transfers, as part of the push. He didn’t name the businesses, citing an ongoing investigation, when asked about it in a press briefing Friday.

Bessent said Thursday on Fox News that FinCEN would require transactions over $3,000 to be reported to the government ...