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.

Director Gacki engaged with small business owners and key stakeholders in Tucson and Phoenix about new reporting requirements under the Corporate Transparency Act. This bipartisan law mandates many companies to report information to FinCEN regarding their ultimate owners or controllers. At both events, Director Gacki thanked Senator Kyrsten Sinema’s office for coordinating these engagements. "These important requirements will make it harder for criminals to operate through anonymous shell companies," she stated. More information about the reporting process can be found at https://www.fincen.gov/boi.

The counter-fentanyl trafficking event in Tucson was part of FinCEN's "Promoting Regional Outreach to Educate Communities on the Threat of Fentanyl" (PROTECT) series, which includes ten sessions planned throughout 2024 in cities heavily impacted by the opioid epidemic. Launched as part of the U.S. Treasury Department’s Counter-Fentanyl Strike Force, PROTECT events aim to foster collaboration between law enforcement agencies and financial institutions on combating illicit fentanyl trafficking.

During Wednesday's session, financial industry representatives shared their perspectives on the opioid crisis while federal officials provided briefings on tracking illicit financial flows related to fentanyl activity. Law enforcement representatives discussed valuable types of information when financial institutions report suspicious activity.