Treasury Secretary Scott Bessent continues on two domestic financial approaches to block banking services for illegal aliens and simultaneously target use of the financial system by those engaged in fraud of the U.S. government.
Secretary Bessent has extended the Geographic Targeting Order (GTO) within Minnesota that covers two counties, Hennepin and Ramsey.
All financial transactions over a $3,000 limit are subject to increased reporting requirements and scrutiny from the U.S. treasury. {citation}
The measure is intended to identify any person who attempts to transfer funds obtained by fraud who operate in the region to take advantage of HHS funding programs. “Treasury promised to follow the money, and that is exactly what we are doing,” said Secretary of the Treasury Scott Bessent. “We will continue to give law enforcement critical tools to trace criminal networks that siphon taxpayer dollars and move them overseas. The Trump Administration will not allow criminals to profit from programs intended to help vulnerable Americans.”
Additionally, the Treasury Department has now concluded the 90-day assessment laid out in an executive order titled “Restoring Integrity to America’s Financial System,” on May 19 and directed the Treasury Department, Federal Reserve, Office of the Comptroller of the Currency, FDIC, National Credit Union Administration and Consumer Financial Protection Bureau to strengthen customer identification and due-diligence rules and to reassess how banks weigh credit risk for borrowers without work authorization.





