The operation produced six notices of investigation, dozens of IRS examination referrals, and over 50 compliance outreach letters.

FinCEN announced a data-driven enforcement operation focused on more than 100 money services businesses (MSBs) along the southwest border, issuing six notices of investigation, dozens of IRS examination referrals, and over 50 compliance outreach letters. The operation used a review of over one million Currency Transaction Reports and 87,000 Suspicious Activity Reports and may lead to civil money penalties, injunctive actions, warning letters, or criminal referrals for Bank Secrecy Act violations. Treasury says the effort, led by Secretary Scott Bessent’s technology modernization push, is coordinated with the Homeland Security Task Force, the IRS, and other federal and state partners to counter cartel-related money laundering and protect national security.