Financial Crime Enforcement Network (Fincen)
| The Financial Crimes Enforcement Network (FinCEN) is a governmental agency of the United States Treasury. FinCEN's mission is to enhance the national security of the United States and protect the financial system from the illicit use of proceeds of crime and terrorist activity. FinCEN collects and analyzes information about financial transactions in order to combat domestic and international money laundering, terrorist financing, and other financial crimes. FinCEN was established in 1990 by the Bank Secrecy Act (BSA), which requires financial institutions to maintain records and file reports on certain financial transactions. FinCEN is headquartered in Vienna, Virginia, with offices in Washington, D.C. and field offices around the country. FinCEN is led by a Director, who is appointed by the President of the United States and confirmed by the Senate. The current Director is Kenneth A. Blanco. FinCEN is a bureau of the United States Department of the Treasury. FinCEN's responsibilities include: - Collecting and analyzing information about financial transactions in order to combat money laundering, terrorist financing, and other financial crimes - Sharing information with law enforcement and intelligence agencies - Working with the private sector to protect the financial system from illicit use - Promoting compliance with the Bank Secrecy Act and other anti-money laundering laws - Conducting financial investigations - Supporting the development of new technologies to combat financial crime FinCEN has a wide range of resources at its disposal to carry out its mission, including: - A Financial Intelligence Unit that analyzes information about financial transactions and produces actionable intelligence for law enforcement - A National Money Laundering Strategy Council that coordinates the government's efforts to combat money laundering - A Financial Institutions Advisory Program that provides guidance to financial institutions on compliance with the Bank Secrecy Act and other anti-money laundering laws - A Financial Crimes Task Force that brings together law enforcement, intelligence, and regulatory agencies to investigate and prosecute financial crimes - A Financial Crimes Data Warehouse that houses information about financial transactions and is available to law enforcement and intelligence agencies FinCEN is a vital part of the government's efforts to combat financial crime. The agency's work is essential to protecting the financial system from abuse and ensuring that the United States remains a safe and secure place to do business. |
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