Treasury Tightens Scrutiny on Money Wire Services
Update: 2025-12-12
Description
Treasury Department steps up scrutiny of money transfer businesses, targeting alleged fraud within Minnesotas Somali community. New measures include additional verification for wire services sending funds to Somalia, with support from the Financial Crimes Enforcement Network and Internal Revenue Service. Allegations of funneling fraudulent funds to al-Shabab, a militant group in Somalia, remain unconfirmed.
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