Financial Crimes Enforcement Network (FinCEN)
U.S. Government: Appointed Boards | U.S. Boards & Commissions
Recent News About Financial Crimes Enforcement Network (FinCEN)
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On June 11 and 12, Financial Crimes Enforcement Network (FinCEN) Director Andrea Gacki and senior FinCEN leaders traveled to Arizona for beneficial ownership reporting outreach events and a counter-fentanyl FinCEN Exchange.
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The Financial Crimes Enforcement Network (FinCEN) has issued its Year in Review for Fiscal Year 2023. The document aims to provide stakeholders with insights into the collection and use of Bank Secrecy Act (BSA) data, highlighting FinCEN’s efforts to support law enforcement and national security agencies.
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On May 31, Financial Crimes Enforcement Network (FinCEN) Director Andrea Gacki and senior FinCEN leaders engaged in two roundtables coordinated with Iowa Representative Zach Nunn’s office in Des Moines, Iowa.
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SAN JUAN, Puerto Rico—The Financial Crimes Enforcement Network (FinCEN) conducted an outreach event today focused on beneficial ownership reporting requirements. The event, held at the Puerto Rico Department of State, was attended by Puerto Rico’s Secretary of State, Hon. Omar J. Marrero-Diaz, and included trade associations representing small business groups in Puerto Rico. This marks FinCEN’s first outreach event in Spanish regarding federal requirements for reporting information about individuals who ultimately own or control businesses.
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The Financial Crimes Enforcement Network (FinCEN), as part of the Treasury Department’s Counter-Fentanyl Strike Force and in partnership with IRS Criminal Investigation (CI), has announced a new initiative to combat the illicit trafficking of fentanyl into the United States. The "Promoting Regional Outreach to Educate Communities on the Threat of Fentanyl" (PROTECT) series of FinCEN Exchange sessions will be held throughout 2024 in U.S. cities severely affected by the opioid epidemic.
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Today, the Securities and Exchange Commission (SEC) and the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) jointly proposed a new rule that would require SEC-registered investment advisers (RIAs) and exempt reporting advisers (ERAs) to establish, document, and maintain written customer identification programs (CIPs). The proposal aims to prevent illicit finance activity involving the customers of investment advisers by bolstering the anti-money laundering and countering the financing of terrorism (AML/CFT) framework for the investment adviser...
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The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) has released an Advisory to aid financial institutions in identifying potentially illicit transactions linked to terrorist organizations backed by the Islamic Republic of Iran. The Advisory outlines the methods through which these groups receive support from Iran and details various strategies they utilize to illegitimately access or bypass the global financial system in order to raise, transfer, and utilize funds. It also presents warning signs that can help financial institutions in...
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FinCEN, the U.S. Department of the Treasury’s Financial Crimes Enforcement Network, will be hosting a webinar on beneficial ownership information reporting requirements. The webinar aims to provide valuable insights into compliance with the Corporate Transparency Act. The Corporate Transparency Act mandates that numerous companies operating in the United States disclose information to FinCEN regarding their ultimate beneficial owners or controllers. In light of this requirement, a FinCEN representative will lead the virtual information session to guide participants on...
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On April 22, 2024, the Financial Crimes Enforcement Network (FinCEN) issued a reminder to financial institutions to stay alert in detecting and reporting suspicious activities linked to environmental crimes. The call comes as the nation observes Earth Day, emphasizing the importance of safeguarding the environment.According to FinCEN, environmental crimes often involve cross-border criminal operations associated with various Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) National Priorities, such as corruption, fraud, human trafficking, and drug...
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The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) recently released a Financial Trend Analysis focusing on patterns and trends related to Elder Financial Exploitation (EFE). According to FinCEN's analysis, there were 155,415 filings over a one-year period totaling approximately $27 billion in EFE-related suspicious activity."FinCEN has long recognized the threat that Elder Financial Exploitation poses and the need to protect the older adult population from financial abuse," stated FinCEN Director Andrea Gacki. She also expressed gratitude...
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The Financial Crimes Enforcement Network (FinCEN) has renewed its Geographic Targeting Orders (GTOs) aimed at identifying the natural persons behind shell companies used in non-financed purchases of residential real estate. The terms of the GTOs will be effective from April 19, 2024, to October 15, 2024.According to FinCEN, the GTOs provide valuable data on the purchase of residential real estate by individuals potentially involved in illicit activities. By renewing these orders, FinCEN aims to enhance efforts in tracking illicit funds and criminal activities, as well as...
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The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) and the Department of State's Diplomatic Security Service (DSS) have jointly issued a Notice to financial institutions regarding the increasing use of counterfeit U.S. passport cards in identity theft and fraud schemes.FinCEN Director Andrea Gacki expressed gratitude for the partnership with DSS, stating, "FinCEN appreciates our partnership with DSS to highlight what is a concerning increase in the use of U.S. passport cards by illicit actors to impersonate and defraud individuals at...