FinCEN's second health care fraud FTA of the year, issued pursuant to AMLA 2020 Section 6206, analyzed 5,702 BSA reports filed by 471 institutions between March 2025 and February 2026 identifying approximately $17.5 billion in suspicious activity (median $600,000/report), with depository institutions filing 89% of reports and 87% of the dollar volume. Schemes typically targeted a mix of Medicare, Medicaid, and private insurance. FinCEN points to a fraud landscape dominated by shell-like providers with no genuine medical footprint rather than legitimate practices padding claims, concentrated in home health, hospice, behavioral health, DME, and daycare lines of business, and reliant on a fairly consistent playbook of commingling government and private-insurance receipts, layering funds through circular transfers to affiliated or non-health-care entities, and cashing out via personal spending, luxury purchases, or international transfers.