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US agencies launch further investigations into Minnesota fraud

Image of US Treasury Secretary Scott Bessent.
US Treasury Secretary Scott Bessent. Photo: David Dee Delgado/Getty Images for The New York Times

Julie DiMauro

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FinCEN has issued four notices of investigation to money-services businesses located in the state, among other things.

The US Treasury Department’s Financial Crimes Enforcement Network (FinCEN) on Friday notified multiple money services businesses (MSBs) they are under investigation for alleged fraud as part of the regulator’s crackdown on alleged federal social benefits abuses in the state of Minnesota, Treasury Secretary Scott Bessent announced.

Secretary Bessent said he

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