FinCEN Identifies $17.5 Billion in Suspected Health Care Fraud

FinCEN released a Financial Trend Analysis identifying roughly $17.5 billion in suspicious financial activity potentially linked to health care fraud.

The figure comes from Bank Secrecy Act ("BSA") reports filed by financial institutions and covers both completed and attempted transactions. The report was issued under the Anti-Money Laundering Act, which requires FinCEN to publish threat pattern and trend information drawn from BSA filings at least semiannually.

FinCEN reviewed 5,702 BSA reports filed between March 1, 2025, and February 28, 2026. Depository institutions filed about 89 percent of the reports and accounted for nearly 87 percent of the reported suspicious amounts. Schemes involved a mix of Medicare, Medicaid, and private insurance payments, with Medicare funds typically traced to Medicare Administrative Contractors and Medicaid funds to state administrators.

Among provider types, (i) home health care businesses were the suspected fraudulent provider in 20 percent of reports, the largest share, (ii) hospice care, behavioral health/addiction treatment, medical equipment, and daycare providers followed, and (iii) almost all subjects were U.S.-based, with only about 1.5 percent of roughly 13,000 subject addresses listed as foreign. Suspected proceeds were often used for personal spending and luxury purchases, sometimes transferred internationally, and a small share of filers flagged possible ties to larger fraud rings or criminal networks.