On September 9, 2026, FinCEN issued a Financial Trend Analysis identifying approximately $17.5 billion in suspicious financial activity potentially linked to health care fraud. The Analysis reinforces the Trump Administration’s commitment to eliminating fraud, protecting taxpayers, and safeguarding the integrity of federal health care programs.
FinCEN analyzed 5,702 BSA reports filed by financial institutions between March 1, 2025 and February 28, 2026, and found the following prominent trends:
Depository institutions filed approximately 89 percent of reports in the dataset and accounted for nearly 87 percent of the reported suspicious activity amounts.
Potentially fraudulent funds were often received from a combination of federal and state programs, as well as private insurance companies.
Medicare payments frequently originated from Medicare Administrative Contractors whereas Medicaid payments originated from state-level administrators.
Filers identified subjects located in every U.S. state, as well as Puerto Rico, Guam, and the U.S. Virgin Islands.
Of the approximately 13,000 subject addresses in the dataset, approximately 1.5 percent had a foreign address.
Home health care businesses were identified as the suspected fraudulent provider in 20 percent of all health care fraud-related BSA reports.
Other frequently identified providers included hospice care companies, mental and/or behavioral health and addiction treatment providers and companies, medical equipment providers, and adult or child daycares.
Suspected perpetrators employed a range of money laundering techniques before spending the suspected fraudulently obtained health care payments.
In many cases, proceeds of suspected health care fraud that did not appear to go through a complex funds transfer process were used on personal expenses and luxury goods, with some funds being sent internationally.
A small percentage of filers reported suspected health care fraud activity potentially involving large fraud rings or criminal networks, as well as some potential connections to foreign entities.
FinCEN’s press release can be found here.
The full Financial Trend Analysis can be found here.