You have likely heard about the allegations of fraud involving certain organizations and daycare centers in Minnesota that have prompted federal investigations. For those financial institutions located in or doing business in Minnesota this obviously has some potential BSA/AML/CFT implications and you will likely want to take a look at whether your institution has any potential exposure. For financial institutions not located or doing business in Minnesota, it’s still something you want to maintain an awareness of because it has also been alleged that this type of fraud is also happening in other states.
Fraud and corruption are just two of the eight key National AML/CFT Priorities identified by the U.S. Department of Treasury that pose a threat to the U.S. financial system and national security.
Kevin explains more in the video.
Published 2026/02/25