WASHINGTON (SD) – The U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued a new alert regarding illicit funds circulating within the American financial system, highlighting increased monitoring of suspicious transactions.

This comes just days after former President Donald Trump made controversial comments targeting Somali refugees in Minnesota.

The warning specifically addresses funds transmitted by individuals who have obtained money through illegal means, with FinCEN emphasizing this poses a “significant national security threat.”

The timing of this financial alert follows Trump’s recent statements, where he claimed, “A group of Somalis are terrorizing the population of this great state.” He promised to “immediately terminate the TPS program for Somalis in Minnesota.”

His comments have sparked concerns about increased scrutiny toward Somali-American communities

The FinCEN directive requires financial institutions, including money transfer services, to report suspicious transactions exceeding $2,000, particularly those with potential links to illegal activities.

This will significantly impact hundreds of thousands of Somali-Americans who rely on remittance services (hawalas), families in Somalia who depend on these funds for survival, and Somali migrants without full legal documentation.

Somali money transfer companies have previously faced intense regulatory pressure, with several major hawalas closing due to compliance challenges. The new warning suggests additional oversight that could further restrict vital remittance flows to Somalia.

Assistant Secretary for Terrorist Financing John K. Hurley stated, “The U.S. government is determined to protect the financial system and combat illicit funds,” though the announcement makes no specific mention of Somali communities.

The combined effect of political rhetoric and enhanced financial monitoring creates particular challenges for Somali-Americans, potentially affecting both their political standing and their ability to support families in Somalia through legitimate remittance channels.