FinCEN
Overview
The U.S.Financial Crimes Enforcement Network (FinCEN) is the financial intelligence unit and AML regulator within the Treasury. FinCEN issues rules, guidance, and enforcement actions; administers the BSA; operates suspicious activity reporting; and manages beneficial ownership reporting under the Corporate Transparency Act. It analyzes SAR/CTR data to identify threats and supports law enforcement.Covered institutions, banks, MSBs, fintechs, and now certain crypto entities must implement written AML programs, perform CDD/EDD, file timely reports, and maintain records. FinCEN advisories and priorities (e.g., ransomware, fentanyl) shape monitoring scenarios and risk assessments. Non-compliance can trigger significant penalties, remediation mandates, and reputational harm, including heightened scrutiny from examiners and counterparties.
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