Treasury flags $8B in suspicious foreign-directed transfers through US money services firms

The Trump administration uncovered what it says is more than $8 billion in potentially fraudulent cross-border wire payments that were made under foreign agents’ direction, issuing new guidelines for nonprofits who take foreign money, executing multiple FBI search warrants and building out a large-scale indictment.

The Financial Crimes Enforcement Network (FinCEN) within the Treasury Department said it identified suspicious wire payments from 2021 to 2025 that were sent through U.S.-based...