Overview
- FinCEN, which issued a banking advisory Monday, urged lenders to file Suspicious Activity Reports and listed red flags tied to organized schemes that bill Medicare and Medicaid for false care.
- Treasury proposed formal rules for a whistleblower program that pays 10–30% when tips lead to penalties above $1 million, with awards funded from collected fines under laws such as the Bank Secrecy Act and IEEPA.
- Treasury Secretary Scott Bessent said a tip portal launched in February has received more than 700 leads, and officials reported a roughly 20% rise in health‑care related suspicious activity reports in 2025.
- Banks were told to watch for shell companies, straw owners, rapid overseas transfers or crypto moves after federal deposits, plus patterns like stolen patient IDs, kickbacks to clinicians, and billing for services never provided.
- The rollout builds on high‑profile probes centered on Minnesota and dovetails with a White House Task Force to Eliminate Fraud led by Vice President J.D. Vance that seeks to claw back tens of billions lost each year.