FinCEN

FinCEN, short for the Financial Crimes Enforcement Network, is a bureau of the United States Department of the Treasury established in 1990 under the Bank Secrecy Act to safeguard the financial system from illicit use and to combat money laundering and terrorist financing. The bureau serves as a center for collecting, analyzing, and disseminating financial information to law enforcement, regulatory, and monetary authorities.

FinCEN administers the Bank Secrecy Act reporting framework, which requires financial institutions to file certain reports, including Currency Transaction Reports for cash transactions over $10,000 and Suspicious Activity Reports when suspicious activity is detected. It analyzes these reports and disseminates intelligence to appropriate agencies. In addition to data collection, FinCEN issues guidance, develops policy, and coordinates with domestic and international partners to strengthen anti-money laundering and counter-terrorist financing efforts. The bureau also oversees elements of customer due diligence and beneficial ownership information for entities engaging in financial transactions.

FinCEN is headquartered in Vienna, Virginia, and operates under the Treasury's Under Secretary for Terrorism and Financial Intelligence. Its director oversees work that includes collaboration with federal, state, and local law enforcement, financial regulators, and international bodies such as the Financial Action Task Force. Through its intelligence products and regulatory guidance, FinCEN supports investigations, policy development, and information sharing to protect the integrity of the U.S. financial system.