Snapshot:
On September 9, 2026, FinCEN released a new report showing that financial institutions identified approximately $17.5 billion in suspicious activity potentially linked to health care fraud through Bank Secrecy Act (BSA) reporting. The analysis reviewed more than 5,700 suspicious activity reports filed over a one-year period and found that fraud schemes affected Medicare, Medicaid, and private insurance programs alike. The report highlights how banks and credit unions continue to play an important role in helping law enforcement identify and investigate large-scale fraud schemes using financial intelligence gathered through routine monitoring and reporting
Why it Matters:
The report serves as a powerful reminder that financial institutions play a critical role in identifying and disrupting fraud well beyond traditional money laundering risks. Health care fraud remains one of the largest sources of financial crime in the United States, and FinCEN’s findings demonstrate how suspicious activity monitoring can provide law enforcement with actionable intelligence to uncover fraudulent billing schemes, illicit payment networks, and misuse of government-funded benefit programs.
For compliance professionals, the analysis reinforces the importance of effective transaction monitoring, customer due diligence, and suspicious activity reporting programs. It also illustrates the value of BSA data in helping regulators and investigators identify emerging fraud trends. As fraud schemes continue to evolve, institutions should ensure that monitoring scenarios, investigative procedures, and staff training remain aligned with current fraud typologies and emerging risks.