Financial Crimes Enforcement Network (FinCEN) is a bureau of the United States Department of the Treasury dedicated to safeguarding financial systems from abuse. FinCEN was established in 1990 to promote transparency in the U.S. and international financial systems. In 1994, FinCEN's responsibilities were broadened to include facilitation of the Bank Secrecy Act (BSA) of 1970 – the country's most comprehensive anti-money laundering (AML) legislation.
By submitting your email address, you agree to receive emails regarding relevant topic offers from TechTarget and its partners. You can withdraw your consent at any time. Contact TechTarget at 275 Grove Street, Newton, MA.
Under the regulations of the BSA, FinCEN requires financial institutions to record and report suspicious activity that might signify money laundering and fraud. FinCEN also acts as an intelligence liaison for law enforcement by coordinating information reported under the BSA with information from a variety of other public and governmental sources. Reports filed with FinCEN must follow the Suspicious Activity Report (SAR) format.